Tribute Minerals Inc.

Tribute Minerals Inc.

June 16, 2009 15:05 ET

Tribute Announces Closing of Balance of Flow-Through Offering With the MineralFields Group and First Tranche of Working Capital Placement

TORONTO, ONTARIO--(Marketwire - June 16, 2009) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) is pleased to announce that further to its press releases of May 20, 2009 and May 25, 2009 it has completed the final tranche of its flow-through share offering through the sale of 7,650,000 flow-through common shares priced at $0.08 per share (the "FT Shares") for gross proceeds of CDN$612,000 with the MineralFields Group. Limited Market Dealer Inc. received a cash finder's fee of $36,720 and 612,000 share purchase warrants to acquire common shares at a price of $0.08 per share for a period of two (2) years from closing expiring on June 11, 2011.

"We are very pleased to be entering into this relationship with MineralFields Group" said Ian Brodie-Brown, President and Chief Executive Officer. "This is an important milestone in the growth of the Company and we look forward to working with MineralFields Group as we develop our projects."

In addition, further to its press release of June 4, 2009, the Company has completed the first tranche of its working capital offering by issuing 833,333 units priced at $0.06 per unit for gross proceeds of $50,000. Each unit consists of one (1) common share and one-half of a share purchase warrant with each full warrant entitling the holder to acquire a further common share at a price of $0.12 per share for a period of two (2) years. The balance of this offering remains open.

All of the securities referred to herein will bear a legend and be restricted from trading until at least October 10, 2009.

The Company currently has 91,438,730 common shares issued and outstanding.

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither 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.

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