Messina Minerals Inc.

Messina Minerals Inc.

October 05, 2005 15:24 ET

Messina Closes $4.17 Million Dollar Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 5, 2005) -


Messina Minerals Inc. (TSX VENTURE:MMI) (the "Company") announces that both the brokered and non-brokered private placements, previously announced on September 6, 2005, have closed. The Company has issued a total of 2,528,212 flow-through shares at a price of $1.65 per share to raise gross proceeds of $4,171,550.

Pacific International Securities Inc. and Dundee Securities Corporation (the "Agents") acted as Agents with respect to the sale of 2,308,000 flow-through shares. A number of Canadian resource funds participated in the brokered private placement. The Company paid the Agents cash commissions of $266,574 and issued a total of 184,640 Agents' Warrants pursuant to the Agency Agreement. The Agents' Warrants will entitle the holder to purchase one common share for a period of one year from the closing date at an exercise price of $1.65. Proceeds from the offering will be used primarily to finance further drilling on the Company's new Boomerang zinc-copper-lead-gold-silver discovery on the Tulks South Property. The flow-through funds raised will be used for exploration expenditures that qualify as Canadian exploration expenses as defined in the Income Tax Act and will be renounced for the 2005 taxation year.

The securities are subject to a hold period expiring February 6, 2006.

On behalf of the Board of Messina Minerals Inc.

Peter Tallman, President

This news release, required by applicable Canadian laws, is not for distribution to U.S. news wire services or for dissemination in the United States, and 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. The foregoing arrangements are subject to regulatory acceptance.

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

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