Millstream Mines Ltd.
TSX VENTURE : MLM
FRANKFURT : NJD

Millstream Mines Ltd.

January 29, 2008 10:51 ET

Millstream Extends Favourable Mineralized Horizon Approximately 500 Metres East of the Mine Shaft

TORONTO, ONTARIO--(Marketwire - Jan. 29, 2008) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) is pleased to report the results of its 7 shallow drilled exploration holes at its Potter Property that were designed to test geophysical targets east of the mine shaft area over a horizontal strike length of 488 metres. As a consequence, the lateral strike length of the favourable mine horizon at Potter now stands at approximately 900 metres running east to west from Line 8+25m West to 16+88m West.

Consultant Dave Gamble, P. Geo, QP (qualified person) for the property states, "The 7 drill holes, S-07-20, S-07-21, S07-23, S-07-27, S-07-28 and S-07-29, were drilled to test Induced Polarization geophysical targets within the Potter Mine sequence at shallow depths along strike to the east of the Potter shaft for approximately 500 metres from Grid Lines 13+13m West to 8+25m West. The drilling intersected along strike the continuation of the mine sequence which consists of basalt proximal facies vent breccia, basalt hyaloclastite with minor intercalated argillaceous mudstone, and narrow intervals of anomalous copper and zinc mineralization. Several coarse massive sulphide fragments carrying copper and zinc mineralization were also intersected. This area of the Potter Mine sequence warrants continued exploration with deeper drill testing of the favourable mine sequence and drill testing of BHPEM (bore hole pulse electromagnetic) targets."

Hole S-07-20 (collar: 9+75W & 3+00S, AZ 180, Dip -60 degrees (deg.)) was drilled to an end of hole depth of 500 metres. Assays from this hole returned elevated anomalous values of copper (Cu) & zinc (Zn) with the highest value of Cu being 0.5940% and highest value of Zn being 0.2710%.

Hole S-07-21 (collar: 9+25W & 3+00S, AZ 180, Dip -65 deg.) was drilled to an end of hole depth of 500 metres with no samples sent for assay.

Hole S-07-23 (collar: 10+50W & 3+00S, AZ 180, Dip -54 deg.) was drilled to an end of hole depth of 505 metres. Assays from this hole returned elevated anomalous values of copper & zinc with the highest value of Cu being 0.1670% and the highest value of Zn being 0.2560%.

Hole S-07-25 (collar: 11+25W & 3+00S, AZ 180, Dip -54 deg.) was drilled to an end of hole depth of 350 metres. Assays from this hole returned elevated anomalous values of copper & zinc with the highest value of Cu being 0.2230% and the highest value of Zn being 0.0748%.

Hole S-07-27 (collar: 12+38W & 3+50S, AZ 180, Dip -64 deg.) was drilled to an end of hole depth of 302 metres. Assays from this hole returned elevated anomalous values of copper & zinc with the highest value of Cu being 0.1190% and the highest value of Zn being 0.1650%.

Hole S-07-28 (collar: 13+13W & 2+75S, AZ 180, Dip -55 deg.) was drilled to an end of hole depth of 119 metres. Assays from this hole returned elevated anomalous values of copper & zinc with the highest value of Cu being 1.46% and the highest value of Zn being 0.2330%.

Hole S-07-29 (collar: 13+13W & 2+75S, AZ 180, Dip -65 deg.) was drilled to an end of hole depth of 418 metres. Assays from this hole returned elevated anomalous values of copper & zinc with the highest value of Cu being 0.0642% and the highest value of Zn being 0.1110%.

Presently, Millstream management is compiling information on an additional number of drill holes in order to present further results to the investing public. It is expected that this information will be made available in the near term.

The past-producing Potter Property is found in the highly prolific Abitibi Greenstone Belt in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario, Canada. The Potter volcanogenic massive sulphide (VMS) type deposit is located midway between the Kidd Creek VMS deposit and the historic Horne VMS deposit with their respective smelter complexes.

Sample preparation and analyses for this release were conducted by Swastika Labs in Swastika, Ontario on split drill core supplied by Millstream. Dave Gamble, P.Geo. and Edward Bettiol, P. Eng, both consultants of Millstream, are the Qualified Persons as described in National Instrument 43-101 for the Potter Mine Project. They have reviewed this report and press release with company management.

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 active projects in the Province of Ontario, Canada and in the State of Montana, USA. The company's main focus continues to be the 100% owned Potter Mine Property. This past producing 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. It is the company's ambition to fulfill drilling requirements necessary to estimate a NI 43-101 compliant resource.

63,347,540 SHARES ISSUED

Date: Jan. 29, '08

Jan. 28, '08 Close: $0.21

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.

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