Millstream Mines Ltd.

Millstream Mines Ltd.

April 27, 2007 09:00 ET

Millstream Completes $2,100,000 Flow-Through Financing

TORONTO, ONTARIO--(CCNMatthews - April 27, 2007) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) is pleased to announce that it has completed a non-brokered private placement of $2,100,000 through the sale of 6,000,000 flow-through units ("FT Units") at $0.35 each of which $1,700,000 or 4,857,142 FT Units have been taken up by MineralFields Group. Each unit is comprised of (1) one flow-through voting share and a one half (1/2) common voting share purchase warrant. Each full purchase warrant will entitle the holder to purchase one (1) additional common voting share for a period of one (1) year at a price of $0.50. The above share issuance and attached warrants are subject to a four (4) month hold period from the date of closing.

The intended use of these proceeds is for exploration on Millstream's Potter Mine and Airport East Properties. The above private placement is subject to TSX Venture Exchange approval.

"We are very pleased to be entering into this relationship with MineralFields Group", states Ernest Harrison, President and CEO. "This is an important milestone in the growth of Millstream Mines Ltd. and we look forward to working with MineralFields Group as we develop our holdings in the Ontario region."

About MineralFields and Pathway

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at First Canadian Securities® is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.

Millstream continues drilling to further explore its potentially rich volcanogenic massive sulphide (VMS) type deposit at its Potter property. The Potter Property is host to a copper-zinc-cobalt deposit located in the highly prolific Abitibi Greenstone Belt in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario, Canada.

The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.

Millstream seeks safe harbour with regards to forward looking statements.

50,751,040 SHARES ISSUED

April 26, '07 Close: $0.345

No regulatory authority or similar body approved nor disapproved the information contained herein.

Contact Information

  • Millstream Mines Ltd.
    Mr. Ernest Harrison, EM
    (705) 474-7282
    (705) 474-5491 (FAX)
    Millstream Mines Ltd.
    Mr. Marty Martinello, B.A.
    (705) 474-7282
    (705) 474-5491 (FAX)
    Millstream Mines Ltd.
    Mr. Robert Chase, B.A.
    (416) 368-9595
    (416) 368-6827 (FAX)