Millstream Mines Ltd.

Millstream Mines Ltd.

July 05, 2011 09:30 ET

Millstream Expands Land Position at Potter

TORONTO, ONTARIO--(Marketwire - July 5, 2011) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) wishes to report it has obtained additional contiguous mining claim units at its Potter property. Current land holdings consist of 16 patent claim units, 12 lease claim units and 19 staked claim units, totaling 47 claim units equivalent to 1,880 acres. In consideration for the claims Millstream has issued 130,000 common shares and granted NSR royalties at 2% and at 3% with the right to purchase back 50% of such royalties for $500,000.

The past producing Potter Mine Property is host to copper-zinc-cobalt "stacked" mineralized zones located in the highly prolific Abitibi Greenstone Belt and more specifically in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario. The property may be accessed by a mining road off of highway 101. A 390 meter deep shaft resides on the property as well. A published initial NI 43-101 compliant resource estimate on the Potter revealed an indicated resource of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1 ppm silver, and 127.5 ppb gold along with an inferred resource of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm silver, and 81.7 ppb gold.

About Millstream Mines Ltd.:

Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The Potter Mine Property found in Ontario is outlined above. The Tamarack Gold Property, a high grade former gold producer in the Tobacco Root Mountains of south western Montana, is in an advanced stage of underground exploration and development operating under the Small Mines Exclusion Act of the State of Montana.

73,851,707 SHARES ISSUED

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.

Contact Information

  • Millstream Mines Ltd.
    Mr. Ernest Harrison, EM
    Chairman and CEO
    705-474-5491 (FAX)

    Millstream Mines Ltd.
    Mr. Marty Martinello, B.A.
    Executive V.P.
    705-474-5491 (FAX)

    Millstream Mines Ltd.
    Mr. Robert Chase, CFA
    President and CFO
    416-368-6827 (FAX)