Mines Management, Inc.

November 09, 2005 19:49 ET

Mines Management Files Toronto Stock Exchange Listing Application

SPOKANE, Wash.--(CCNMatthews - Nov 9, 2005) -

Mines Management, Inc. (AMEX:MGN) (the "Company") is pleased to announce that it has filed an application to list its shares on the Toronto Stock Exchange ("TSX"). This listing would be in addition to its current listing on the American Stock Exchange ("Amex").

The TSX listing, if approved, will provide additional investment opportunities for Canadian investors, investment professionals and institutions, and is part of the Company's strategy to increase visibility for the Company and improve liquidity for shareholders.

The Company's President and CEO, Mr. Glenn Dobbs, stated, "We are extremely pleased that Canadian investors will be able to trade our shares on the highly esteemed TSX market. We have been gratified at the reception we have received in the institutional community in Canada, and look forward to them participating alongside our U.S. investors as we advance the Montanore Project."

Mines Management, Inc. is focused on the Montanore Silver-Copper Project in northwestern Montana. The Company acquired the Montanore Project in 2002 when its previous operator, Noranda Minerals, withdrew from the project due to low metals prices at the time.

The Montanore Project underwent more than 21,000 meters of diamond drilling by its discoverers, U.S. Borax, during the early 1980's, delineating stratabound, bedded mineralized zones nearly four-kilometers long by one-kilometer wide containing silver and copper. Further activities conducted by Noranda included full engineering and feasibility work, permitting, and construction of a 4,300-meter evaluation adit.

Currently, the project is undergoing re-permitting and a pre-feasibility study designed to update and optimize the mine plan. The Company's consultant has recently completed an independent review and assessment of the Montanore deposit that will be the subject of a technical report required by Canadian National Instrument 43-101 as part of its TSX listing.

Glenn Dobbs stated, "Toronto is the leading mining venture capital market in the world. If one wants to attract the attention of serious mining stock investors, it is imperative our shares are available in the world's premier mining stock market."

Mines Management, Inc. is a U.S.-based mineral company focused on the acquisition and exploration of silver dominant mineral deposits. Its primary focus is currently on advancement of the Montanore Silver-Copper Project.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 regarding the listing and trading of the Company's shares on the Toronto Stock Exchange. These statements are based on assumptions that the Company believes are reasonable but that are subject to uncertainties and business risks. Actual results relating to any and all of these subjects may differ materially from those presented. Factors that could cause results to differ materially include non-approval of the company's listing application, fluctuations in silver and copper prices and other factors discussed in the Company's periodic filings with the Securities and Exchange Commission, including its annual report on form 10-KSB, as amended, for the year ended December 31, 2004.

Further information about Mines Management, Inc. can be reviewed on the website for the Securities and Exchange Commission at www.sec.gov or on the company's website at www.minesmanagement.com.

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