Tribute Minerals Inc.

Tribute Minerals Inc.

July 31, 2008 14:47 ET

Tribute's Exploration Update

TORONTO, ONTARIO--(Marketwire - July 31, 2008) - Tribute Minerals Inc. (TSX VENTURE:TBM) presents an update of the remaining assays from Holes GL-2007-64, GL-2008-65, 67 and 72 on its Garnet Lake property in the Confederation Lake Belt, Red Lake Mining District, Northwestern Ontario. The first three holes are definition drill holes that were completed to recover mineralized material from the Arrow Zone for bench testing presently being completed by SGS Lakefield Ontario.

Hole GL-2008-72 tested the far western extension of the favourable mineralized trend of the Arrow Zone located on the north-western side of Garnet Lake. Drilling intersected in the hole multiple zones of iron and base metal sulphides hosted within 230 metres of hydrothermally altered volcanic rocks suggesting the favourable trend is widening to the west and at depth.

Analytical results are summarized below. True widths of the zones are 0.76 to 0.9 of these intersections.

DDH section (m) width (m) Zn(wt%) Cu(wt%) Au(ppm) Ag(ppm) In(ppm)
GL-2007-64 430.8-435.7 4.8 0.75 1.24 0.87 9.6 24.0
GL-2008-65 474.4-478.6 4.2 1.32 0.20 0.10 3.51 13.9
488.4-490.8 2.4 7.47 0.63 0.50 26.0 35.2
GL-2008-67 501.8-505.2 4.1 10.2 1.07 0.68 31.4 89.1
GL-2008-72 500.6-502.0 1.4 4.49 0.34 0.20 22.7 2.5
603.4-607.0 3.6 0.93 0.18 0.07 8.0 3.3
615.7-618.0 2.3 1.01 0.02 0.01 9.3 3.7
624.0-625.8 1.8 1.10 0.03 0.02 1.4 0.1
693.0-694.8 1.8 1.00 0.03 0.35 6.5 3.1
704.3-705.8 1.5 3.62 0.16 0.95 17.2 24.5

Base line environmental, static geochemical and geotechnical reports received from field studies completed by Golder Associates on the property are undergoing review and compilation. Metallurgical bench testing on HQ core from mineralized intersections for holes GL-2007-64 and GL-2008-67 is continuing.

The drill core samples sent for assay were split in half using a diamond saw and sealed in secure packages, shipped by bonded carrier from Ear Falls to ALS Chemex in Thunder Bay for preparation, and to ALS Chemex in North Vancouver for AU-AA62 assay (gold by fire assay with AA finish) and ME-MS61 47 element analysis (4 acid dissolution and ICP-MS). High analyses (greater than 10,000 ppm) for copper, zinc and (greater than 100 ppm) silver were submitted for ore grade AA62 analysis (4 acid dissolution with AA finish). ALS Chemex fulfilled standard QA/QC protocols.

Some samples have been sent to Activation Laboratories in Thunder Bay for preparation, and to Activation Laboratories in Ancaster for 1A2 AU assay (gold by fire assay with AA finish) and UT-4 multi element analyses (total digestion and ICP-MS). High analyses (greater than 10,000 ppm) for copper, zinc and (greater than 100 ppm) for silver were submitted for ore grade analysis. Activation Laboratories fulfilled standard QA/QC protocols. A duplicate unknown to the laboratory is submitted per batch of ten samples. A polymetallic standard, unknown to the laboratories, is included with each submission of samples. As a precaution, samples have been sent to a third laboratory for check analyses.

The technical information in this press release was reviewed and approved by Trevor Boyd, P. Geo., a qualified person (QP) for the purposes of NI 43-101.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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

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