Mineral Mountain Resources Ltd. Announces C$2.0 Million Private Placement Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2011) -

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Mineral Mountain Resources Ltd. (TSX VENTURE:MMV) ("Mineral Mountain" or the "Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the "Agent"), to sell 4,260,000 units (the "Units") on a private placement commercially reasonable efforts basis at a price of C$0.47 per Unit for gross proceeds of up to C$2,002,200 (the "Offering"). In addition, the Company will grant the Agent an over-allotment option, exercisable prior to the closing of the Offering, to purchase from the Company up to an additional 640,000 Units at C$0.47 per Unit to raise additional gross proceeds of up to C$300,800 (the "Over-Allotment Option", and together with the Offering, the "Offering").

Each Unit shall consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant shall be exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of C$0.55 in the first year and C$0.60 in the second year.

The Agent will receive a cash commission on the sale of the Units representing 7% of the gross proceeds raised and broker warrants ("Broker Warrants") equal to 7% of the Units sold under the Offering. Each Broker Warrant shall be exercisable for one Unit of the Company at a price of C$0.47 at any time up to 24 months after closing. In addition, the Agent will receive a corporate finance fee of 50,000 Units.

The funds raised from the issuance of the Units will be used for exploration of its mineral properties and for general working capital purposes.

The Company is a British Columbia-based company primarily engaged in the acquisition of mineral resource properties in Canada and the exploration of such properties for minerals. Minerals of interest to the company include precious metals including gold and silver and base metals including zinc, lead and copper.

On Behalf of the Board of Directors of MINERAL MOUNTAIN RESOURCES LTD.

"Nelson W. Baker", President and CEO

Reader Advisory

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.