Rocmec Mining Inc.
TSX VENTURE : RMI

Rocmec Mining Inc.

June 01, 2006 10:52 ET

Rocmec Obtains a $2,000,000 Gold Loan

POINTE-CLAIRE, QUEBEC--(CCNMatthews - June 1, 2006) - Rocmec Mining inc. ("Rocmec") (TSX VENTURE:RMI) is pleased to announce, subject to the approval of the TSX Venture stock exchange, that following negotiations with a group of private investors, Rocmec has concluded an agreement for a $2,000,000 gold loan. The loan is scheduled to be disbursed in 3 instalments; the first for a minimum of $500,000 on June 15th, 2006, the second for a minimum of $500,000 on July 31st, 2006 and the remaining balance, if any, on August 31st, 2006. The loan bears a 1% per month interest rate, payable quarterly. The principal is payable in 4 equal quarterly payments, the first on November 30th, 2006. Repayment of interest and principal will be paid in gold ounces delivered to the lenders. The number of ounces will be calculated monthly by dividing the interest and principal by the average closing price of the previous 10 days on the New-York spot market, in Canadian dollars less 20%.

Proceeds will be used to accelerate the development of the Russian Kid gold property.

Private Placement Transaction - Flow-Through

Subject to the approval of the TSX Venture stock exchange, Rocmec announces that it has issued 2,062,500 flow-through shares, priced at $0.24 per share for an amount of $495,000. A cash commission totalling 6.8% is to be paid and 25 000 warrants will be issued. Warrants will be valid for 24 months and will enable the subscriber to acquire one common share at a price $0.21. 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 for a period of four months.

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 veins with it's 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 Russian Kid property are an excellent example of this strategy.

Rocmec Mining Inc., is a publicly trading Canadian junior exploration company, listed on the TSXVenture exchange under the symbol RMI. The primary objective is 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 vein deposits.

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

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