Messina Minerals Inc.

Messina Minerals Inc.

June 22, 2009 09:20 ET

Messina Minerals Inc. Acquires Haven Steady Property, NL

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2009) - Messina Minerals Inc. (TSX VENTURE:MMI) has acquired an option (the "Agreement") to earn a 100% interest in the Haven Steady zinc property located in central Newfoundland, Canada from Tenacity Gold Mining Company Ltd. ("Tenacity Gold") of St. John's, Newfoundland. The Haven Steady property lies approximately 15 km southwest of the Duck Pond copper-zinc mine and 60 km northeast of Messina's "Boomerang" deposit on the Tulks South Property.


The Haven Steady Property is comprised of one mineral licence encompassing 7 claims totaling 175 hectares in area. The licence covers the Haven Steady zinc-lead prospect and 1.4 kilometers of strike length. Noranda Exploration ("Noranda") discovered the prospect in 1988 and completed approximately 15 drill holes by 1991. No significant exploration work has been conducted on the prospect since that time.

The Haven Steady prospect consists of zinc-lead sulphide mineralization outlined by drilling over a strike length of 700 meters and tested to a vertical depth of 500 meters in widely spaced drilling. Three drill holes intersected massive sulphides including 3.5 meters grading 9.8% zinc, 2.7% lead, 0.1% copper, 28 g/t silver and 0.5 g/t gold in HS88-7 and 1.2 meters grading 11.6% zinc, 1.8% lead, 1.8% copper, 81 g/t silver, and 3.7 g/t gold in HS88-3. All drill holes intersected widespread alteration containing base metals including 129.7 meters grading 1.5% zinc and 0.3% lead in HS88-5 and 116.4 meters grading 1.0% zinc and 0.4% lead in HS88-3. All intervals are core lengths and true thicknesses are currently unknown.

Boomerang Deposit Comparison:

The Haven Steady prospect has close similarities to Messina's Boomerang 'target' prior to the discovery of the Boomerang deposit. Prior to Messina's discovery of the Boomerang massive sulphide deposit in 2004, Noranda had outlined a 400 meter long alteration zone at Boomerang in approximately 8 holes containing base metals including 0.7% zinc and 0.2% lead over 32.9 meters. One of those drill holes at Boomerang had intersected massive sulphides. The alteration zone hosting base metal mineralization at Haven Steady is relatively longer, thicker, and has higher base metal content compared to the similar alteration zone immediately surrounding the Boomerang deposit.

Transaction Terms:

To acquire a 100% interest in Tenacity Gold's Haven Steady Property, Messina will, subject to Regulatory Approval, issue 400,000 non-transferable share purchase warrants in tranches of 100,000 upon Regulatory Approval, 100,000 after 6 months, 100,000 after twelve months, and 100,000 after eighteen months respectively, after signing of the Agreement. The share purchase warrants entitle Tenacity Gold to purchase one common share per warrant for a period of five years from the date of issue at a price equal to the closing market price on the day prior to the respective dates of issuance of the warrants. Messina must also incur exploration expenses of not less than $600,000 before the fifth anniversary of the signing date of the Agreement. A 2% net smelter return royalty ("NSR" or "Royalty") has been reserved in favour of Tenacity Gold; Messina may purchase and terminate 50% of the Royalty at any time upon paying to Tenacity Gold an aggregate cash payment of $1,000,000 whereupon the Royalty will be reduced to a 1% NSR.

Work Plan

A detailed compilation of Haven Steady geological, geophysical, and drilling information is underway. A program of field mapping and review of historical drill core is planned to be completed by August. Additional geophysics may be warranted to refine selection of drill targets prior to a reconnaissance drill program considered for the latter part of 2009.

About Messina

Messina Minerals Inc. is exploring for zinc-lead-copper-silver-gold massive sulphide deposits in central Newfoundland, Canada on its extensive 412 square kilometer mineral lands, in a region known historically for its zinc resources and where the Company has made massive sulphide discoveries including "Boomerang" and "Domino". Messina now has mineral resources containing in excess of 750 million pounds of base metals plus 9 million ounces silver and 130,000 ounces gold. See our website for more information.

Kerry Sparkes, P.Geo., Vice President of Messina Minerals Inc. is the Qualified Person responsible for exploration on the Company's properties in central Newfoundland and who has reviewed and is responsible for the technical data contained in this news release.


Peter Tallman, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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