Monroe Minerals Inc.

Monroe Minerals Inc.

July 03, 2008 07:52 ET

Monroe Minerals Closes Sale of Diamond Interests

CALGARY, ALBERTA--(Marketwire - July 3, 2008) - Monroe Minerals Inc. (TSX VENTURE:MMX) ('Monroe') announced today the closing of the previously announced sale of its African diamond interests to Namakwa Diamonds Holdings (Pty) Ltd ('Namakwa'). Monroe has received US$1,050,000 in cash and a 10% carried equity interest in developments arising from the intellectual data base of Monroe Mining (Pty) Limited ('Monroe SA'). Of the balance of the consideration, US$300,000 has been paid into escrow with Monroe's legal counsel in Johannesburg until South African ministerial consent to the sale of Monroe SA is received, and approximately US$50,000 will be paid upon the completion of delivery of minor assets to Namakwa.

Monroe is engaged in the assembly of an international portfolio of uranium exploration projects. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Monroe's shares trade on the TSX Venture Exchange under the symbol MMX. For more information please visit

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Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

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