Mantle Resources Inc.
TSX VENTURE : MTS
FRANKFURT : A0F7E1

Mantle Resources Inc.

February 01, 2006 08:30 ET

Mantle Announces $3.75 Million Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2006) -

NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Mantle Resources Inc. (TSX VENTURE:MTS)(FWB:A0F7E1) ("Mantle" or the "Company) is pleased to announce a brokered private placement financing, on a commercially reasonable efforts basis, to raise gross proceeds of up to $3,750,000 led by Pacific International Securities Inc. (the "Agent").

Pursuant to the financing, Mantle will issue up to 3,000,000 flow-through units (the "Units") at a price of $1.25 per Unit. Completion of the financing is subject to receipt of all necessary regulatory approvals.

The Agent will be paid a commission of 5% of the gross proceeds raised, payable at the election of the Agent in cash or in non-flow through units having the same terms as the Units comprising the offering, and compensation options equal to 7% of the number of Units sold. Each compensation option shall entitle the Agent to acquire one common share of the Issuer at an exercise price of $1.35 for a period of 12 months from the closing date.

The proceeds are currently proposed to be spent on further exploration of the Company's Akie sedex zinc-lead property located approximately 280 km north-northwest of the Town of Mackenzie, B.C. and approximately 50 km north of the northern tip of Williston Lake.

About the Akie Property:

The Akie property, which has been optioned from Ecstall Mining Corporation, comprises a total of 256 claim units, in 22 contiguous mineral claims encompassing some 5,400 hectares, situated in the Omineca Mining Division of British Columbia. Between 1992 and 1996, approximately $5.4-million was spent exploring the property, including approximately 13,000 metres of diamond drilling.

For further information regarding the Akie property, the reader is referred to a NI 43-101 report, titled Geological Report on the Akie Property, dated October 24, 2005, by D.G. MacIntyre, Ph.D., P.Geo.(BC), which is filed on SEDAR at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ON BEHALF OF THE BOARD OF DIRECTORS

MANTLE RESOURCES INC.

PEEYUSH VARSHNEY

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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