Messina Minerals Inc.
TSX VENTURE : MMI

Messina Minerals Inc.

January 02, 2007 13:10 ET

Messina Minerals "MMI" Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 2, 2007) - Messina Minerals Inc. (the "Company") (TSX VENTURE:MMI) has closed the non-brokered private placement previously announced on December 19, 2006. The Company has issued a total of 125,000 flow-through units at a price of $1.40 per unit to raise gross proceeds of $175,000. Each unit consists of one flow through common share and one non flow-through warrant, with each warrant exercisable into one share at $1.75 for two years.

Proceeds of the flow-through placement will be used to fund exploration programs on the Company's Newfoundland properties. 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 2006 taxation year.

The securities are subject to a hold period expiring April 30, 2007.

The Company also announces that, subject to regulatory approval, it has granted 775,000 incentive stock options to certain employees, officers, directors and/or consultants at a price of $1.25 per share, exercisable for a period of two years.

On behalf of the Board of Messina Minerals Inc.

Peter Tallman, President

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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