Mountain Boy Minerals Ltd.
TSX VENTURE : MTB

November 30, 2010 15:49 ET

Mountain Boy Minerals Ltd.: Flow-Through Non-Brokered Private Placement to Raise Up to $775,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2010) - Mountain Boy Minerals Ltd. (TSX VENTURE:MTB) is pleased to announce it has agreed to complete a private placement to raise proceeds of up to $775,000. It has been agreed the offering will be comprised of 5,000,000 flow-through units at a price of $0.155 per unit. The units will be comprised of one common share and one-half of one non-flow-through warrant, with each whole warrant being exercisable for the purchase of an additional share, at a price of $0.20 per share, for a two year period.

Proceeds from the placement will be used to fund a winter drill program on the Company's wholly owned Dunwell Gold Mine. The Company has agreed to pay cash commission of 7% and agents warrants of 7% of the proceeds raised. Terms of the agents warrants will be the same as the private placement warrants.

This financing is in addition to the $465,000 flow through financing announced on November 24, 2010.

About Mountain Boy Minerals Ltd.

Mountain Boy Minerals Ltd. is a Canadian based mineral exploration company with diverse property and resource holdings around the Stewart region in British Columbia's golden triangle. It owns 30% of the Silver Coin project, a gold-silver-base metals project with a 43-101 defined 835,700 ounces gold in the measured and indicated category and 655,200 ounces in the inferred category. The Company is also is exploring silver-base metals on its American Creek and Bear Valley properties as well as copper-gold in their Stewart area claims.

ON BEHALF OF THE BOARD

Ed Kruchkowski, Director

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contact Information

  • Mountain Boy Minerals Ltd.
    Investor Relations
    604-681-0710
    or
    Mountain Boy Minerals Ltd.
    Ed Kruchkowski
    250-636-9232
    250-636-9233 (FAX)
    www.mountainboyminerals.ca