Messina Minerals Inc.
TSX VENTURE : MMI

Messina Minerals Inc.

November 12, 2010 19:27 ET

Messina Minerals Inc. Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2010) - Messina Minerals Inc. (TSX VENTURE:MMI) (the "Company") is pleased to announce that it has closed its recently announced non-brokered equity private placement (see News Release October 13, 2010) by the issuance today of 1,220,000 units at a price of $0.10 per unit for gross proceeds to the Company of $122,000. Each non flow-through unit consists of one common share and one non-transferable common share purchase warrant of the Company. Each warrant, expiring on March 12, 2012, entitles the holder to purchase one common share of the Company at a price of $0.15. In addition, Messina has closed the flow-through portion of the private placement by the issuance today of 3,564,167 flow-through units at a price of $0.12 per flow-through unit for gross proceeds to the Company of $427,700. Each flow-through unit consists of one flow-through common share and one-half of one non-transferable common share purchase warrant. Each whole warrant, expiring on March 12, 2012, entitles the holder to purchase one non flow-through common share of the Company at a price of $0.15. Proceeds received from the private placement are intended to be used to continue exploration work on the Company's properties in central Newfoundland and for general corporate purposes.

Finders' fees were paid to arms-length parties to the Company by way of the issuance of 188,400 finders' units. The finders' units are the same as the non flow-through units.

All securities issued pursuant to this private placement are subject to a four month hold period that expires on March 13, 2011.

Peter Tallman President and CEO stated, "With completion of this financing, Messina can begin a sustained exploration program on its central Newfoundland properties targeting zinc mineralization at a time of increasing demand for the metal and forecast mine production shortfalls."

ON BEHALF OF THE BOARD OF DIRECTORS OF MESSINA MINERALS INC.

Steve Brunelle, Director

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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