Rocmec Mining Inc.

Rocmec Mining Inc.

October 03, 2007 16:41 ET

Rocmec Closes the Second Tranche of a Financing of up to $4,000,000 With the Mineralfields Group

POINTE-CLAIRE, QUEBEC--(Marketwire - Oct. 3, 2007) - Rocmec Mining Inc. (TSX VENTURE:RMI) is pleased to announce that it has closed the second tranche of a private placement with the MineralFields Group consisting of 4,547,777 flow-through units ("FT Units") at a price of $0.18 per FT Unit for gross proceeds of $818,600. Each FT Unit is comprised of one flow-through common share of the Company and one transferable non-flow-through share purchase warrant. Each share purchase warrant entitles its holder thereof to purchase one additional common share of the Company at a price of $0.25 for a period of 12 months from the closing date and thereafter at a price of $0.30 for an additional period of twelve months.

Limited Market Dealer Inc. will obtain a cash finder's fee from the Company equal to 2% of the aggregate gross proceeds along with finder's shares equal to 2% of the FT Units subscribed for and finder's options equal to 10% of the number of FT Units subscribed for. The options are issued under the same terms as the share purchase warrants issued to the subscribers.

All the securities issued in virtue of this placement are subject to certain resale restrictions imposed under the applicable securities laws, which require that the securities not be traded before February 3, 2008.

The proceeds from the sale of the FT units will be used by the Company for underground development of its Rocmec1 (Russian Kid) project located in Rouyn-Noranda, Quebec.

"Rocmec is very pleased to be renewing its relationship with MineralFields Group", stated Mr. Donald Brisebois, President and CEO. "This is an important milestone in the growth of Rocmec and we look forward to working with MineralFields Group as we develop our holdings."

About MineralFields, Pathway and First Canadian Securities®

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about the MineralFields Group is available at First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of, MineralFields Group.

About Rocmec

Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow high-grade precious metal quartz vein properties. The Company is listed on the TSX-Venture exchange and trades under the symbol: RMI

Rocmec's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value. Exploitation of narrow high-grade precious metal quartz veins with its exclusive thermal fragmentation process coupled with conventional mining methods will lead the Company in becoming a mid-size gold producer. The acquisition, development and future exploitation activities at the recently acquired Rocmec I (Russian Kid) property are an excellent example of this strategy.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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