Tribute Minerals Inc.
TSX VENTURE : TBM

Tribute Minerals Inc.

October 14, 2005 09:00 ET

Tribute Announces Brokered Private Placement

TORONTO, ONTARIO--(CCNMatthews - Oct. 14, 2005) - Tribute Minerals Inc. ("Tribute" or the "Company") (TSX VENTURE:TBM) is pleased to announce that it is offering up to 5,000,000 units ("Units") at a price of CDN$0.10 per Unit for gross proceeds of up to CDN$500,000, with each Unit consisting of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder to acquire a further common share at a price of $0.12 for a period of twenty-four (24) months from closing. The Company is also pleased to announce that it is offering up to 3,333,333 Flow Through Units ("FT Units") at a price of CDN$0.15 per FT Unit for gross proceeds of up to CDN$500,000, with each FT Unit consisting of one (1) flow through common share and one (1) common share purchase warrant. Each warrant entitles the holder to acquire a further common share at a price of $0.12 for a period of twenty-four (24) months from closing. The Company may offer a greater proportion of Units than FT Units but the total offering will not exceed $1,000,000 subject to the Agent's Over-Allotment Option referred to below.

Union Securities Ltd. ("Union" or the "Agent") has agreed to act as agent on a best efforts basis with respect to the private placement. Tribute will pay a 10% cash commission at closing and will issue to Union Broker Options equal to 8% of the number of FT Units and Units sold. Each Broker Option will entitles Union to purchase a Unit of the Company at the issue price per Unit at any time prior to the date that is twenty-four (24) months from closing. The Agent has been granted the right to a 15% Over-Allotment Option exercisable for 10 days after closing.

The proceeds from the offering will be used for exploration on Tribute's properties and for working capital. The financing is anticipated to close by October 27, 2005.

This transaction is subject to approval from the TSX Venture Exchange.

The Company currently has 39,656,910 common shares issued and outstanding.

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

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