South Dakota's DENR Approves the Transfer of Master EXNI-363 and EXNI-369 Permits from Energy Fuels Corporation to Mineral Mountain Resources Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2012) - Mineral Mountain Resources Ltd. (TSX VENTURE:MMV)(OTCQX:MNRLF) ("Mineral Mountain" or the "Company") is pleased to report that on Wednesday, October 17, 2012, the South Dakota Department of Environment and Natural Resources (DENR) and its governor-appointed citizens board has approved the transfer of Master EXNI-363 and EXNI-369 permits issued circa March 1994 to Energy Fuels Corporation to Mineral Mountain effective immediately. EXNI-363 encompasses 420 approved drill holes covering a large area within the Holy Terror Project some of which correlate to priority drill targets already being tested in the Company's on-going Phase 1 drill program. EXNI-369 allows for a 5000-ton bulk underground exploration sampling program of the Keystone deposit.

"Thanks to the excellent cooperation we received from John Adams and his team at Energy Fuels Corporation, in less than six months, we are now in an enviable position to rapidly accelerate the exploration of this high grade gold project," commented Nelson W. Baker, President and CEO.

On Behalf of the Board of Directors

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 information" under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, constitute forward-looking information. Forward-looking information consists of 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 information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward-looking information. Factors that cause the actual results to differ materially from those in forward-looking information 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 information 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 the forward-looking information 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.