Maple Minerals Corp.
TSX VENTURE : MPM

June 16, 2005 17:45 ET

Maple Minerals Corp. Announces Closing of Unit Financing

TORONTO, ONTARIO--(CCNMatthews - June 16, 2005) -

NOT FOR DISSEMINATION TO US NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Maple Minerals Corp. (TSX VENTURE:MPM) is pleased to announce that has closed its previously announced (see Maple press release dated June 7, 2005) non-brokered private placement of units to raise gross proceeds of $500,080. Pursuant to the financing, Maple issued 357,200 units at a price of $1.40 per unit, each unit consisting of one common share and one-half of one share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of Maple at an exercise price of $1.55 per share until June 16, 2006.

The common shares and warrants comprising the units have a hold period expiring on October 17, 2005. Proceeds of the sale will be used for general corporate purposes. Completion of the financing remains subject to the final approval of the TSX Venture Exchange.

The flow-through financing also announced in the June 7, 2005 press release is expected to close shortly.

Maple Minerals Corp. is a Toronto based resource company with property interests in Australia, Mongolia, Argentina, Africa and Canada. For more information about Maple, please visit the company's website at www.mapleminerals.com.

Shares Outstanding: 26,983,719

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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