Rocmec Mining Inc.

Rocmec Mining Inc.

November 08, 2007 09:45 ET

Rocmec Signs Option to Acquire 6 Narrow Vein Gold Concessions in Peru

POINTE-CLAIRE, QUEBEC--(Marketwire - Nov. 8, 2007) - ROCMEC MINING INC. (the "Company") (TSX VENTURE:RMI)(FRANKFURT:D5O) is pleased to announce that it has signed an option agreement to acquire 6 narrow vein gold concessions in Peru. The concessions cover 1,700 hectares and are located approximately 80 km from the city of Arequipa. One of the concessions is currently in operation using small-scale traditional mining methods, producing about 10 tonnes of very high grade ore daily. The option is valid for 6 months from signing at a cost of $100,000 USD. An initial $50,000 USD was paid upon signing, the remaining $50,000 USD will be employed for due diligence purposes.

All the necessary mining services are readily available in Arequipa and the 80 km distance between the city and the properties is well traveled by an access road that is used daily to transport ore and mining materials to and from the site. Rocmec plans on developing the project with a Canadian partner, RSW-Beroma, who has been travelling extensively in Peru for the past three years especially in the Arequipa area evaluating the best gold properties.

RSW-Beroma design and build modular ore treatment plants. This type of system is complementary to thermal fragmentation because these low volume plants can treat the high-grade ore produced by the usage of the thermal process.

During an on-site visit by the president of Rocmec accompanied by the president of Beroma and a Canadian geologist, they visited the mining site and underground drifts. The existence of highly mineralised quartz veins was apparent upon visual inspection. Several samples that were brought back to Canada contain visible gold. The due diligence process is underway and currently, on-site, over one hundred samples from underground workings (mineralised zone and hanging wall) have been gathered and sent for analysis to the ALS/Chemex laboratory in Lima, Peru. Work to be conducted over the next two months will include stripping, locating and sampling of the veins.

Considering that Rocmec plans on extracting the ore by way of thermal fragmentation, several scenarios are being elaborated pertaining to the manufacturing and emplacement of a 100tpd modular ore treatment plant.

"This project is not only a perfect fit for our technology, it fits perfectly within the framework of our mission statement of employing our patented thermal fragmentation to develop high-grade narrow vein ore deposits around the world" states Donald Brisebois, President and CEO of Rocmec.

Subject to the approval of the TSX Venture stock exchange, the Company announces that it has completed a secured debt financing with six (6) arm's length lenders for an amount of $874,000. The maturity date of the loan is April 30, 2008. The loan will bear an annual interest of 15%.

The repayment of the loan including capital amount and interest has been guaranteed with refundable resource tax credits to which the Company is entitled to from the ministere du Revenu du Quebec for the fiscal year ended September 30, 2007.

In order to secure this financing, an aggregate of 291,332 share purchase warrants have been issued to the lenders. Each share purchase warrants entitles its holder thereof to subscribe to one additional common share of the Company at a price of 0.195$ for a maximum period of 24 months. The number of share purchase warrants will be decreased proportionally to any partial or full repayment of the loan by the Company before the maturity date of the loan.

The granting of the loan has been required for the implementation of the business plan of the Company prior to the completion of additional equity financing.

About Rocmec Mining

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 places it as the partner of choice for the development of narrow high-grade precious metal quartz vein projects. The Company's shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange. The company's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value.

"Thermal fragmentation - the way of the future for mining narrow high-grade veins"

The development and mining of narrow high-grade vein deposits with its exclusive thermal fragmentation process should enable the Company to demonstrate the economic plus-value of this technology. The acquisition, exploration and mining development at the recently acquired Rocmec 1 (Russian Kid) property subscribe to this objective.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these "forward-looking statements".

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

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