Rocmec Mining Inc.
TSX VENTURE : RMI

Rocmec Mining Inc.

October 13, 2006 09:38 ET

Rocmec Announces Financings Totalling $1,894,000

POINTE-CLAIRE, QUEBEC--(CCNMatthews - Oct. 13, 2006) - Rocmec Mining Inc. (TSX VENTURE:RMI) is pleased to announce that it has reached agreements with private investors for financings totalling $1,894,000.

Subject to the approval of the TSX Venture stock exchange, Rocmec announces that it will issue 1,364,242 flow-through shares, priced at $0.28 per share for an amount of $382,000. A cash commission totalling $38,000 was paid. All the securities issued in virtue of this placement are subject to certain resale restrictions imposed under the applicable securities laws, which require that the securities not be traded for a period of four months.

Subject to the approval of the TSX Venture stock exchange, Rocmec announces that as per the terms and conditions of the debenture with the Abitibi-Temiscamingue solidarity FTQ fund, limited partnership, Rocmec will issue 54,545 common shares as payment of interest for the semester.

Subject to the approval of the TSX Venture stock exchange, Rocmec announces that it has reached an agreement with private investors for the issuance of convertible debentures for a minimum of $1,000,000 and a maximum of $1,500,000. The debentures carry an annual interest rate of 12% plus a maximum NSR royalty of 1.8% on gold ounces produced during the first year at Russian Kid and 1.2% thereafter. The debentures will mature on December 31st, 2008, are redeemable on demand with a 3 month interest and royalty penalty. The debenture holders may convert 30% of the total amount of the debentures into common shares at a price of $0.30 per share and the issuer has the right to force conversion of 70% of the total amount of the debentures into common shares at a price of $0.70 per share if the closing stock price of the last 30 days preceding conversion exceeds $0.90.

Rocmec's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value. Exploitation of narrow high-grade precious metal quartz veins with its exclusive thermal fragmentation process coupled with conventional mining methods will lead the Company in becoming a mid-size gold producer. The acquisition, development and future exploitation activities at the recently acquired Rocmec I (Russian Kid) property are an excellent example of this strategy.

Rocmec Mining Corporation Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow high-grade precious metal quartz vein properties. The Company is listed on the TSX-Venture exchange and trades under the symbol: RMI

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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