Tribute Minerals Inc.
TSX VENTURE : TBM

Tribute Minerals Inc.

May 04, 2007 12:04 ET

Tribute Appoints New Director and Chair of Audit Committee and Adopts Shareholder Rights Plan

TORONTO, ONTARIO--(CCNMatthews - May 4, 2007) - Tribute Minerals Inc. ("Tribute" or the "Company") (TSX VENTURE:TBM) is pleased to announce the appointment of Mr. Frank van de Water to its Board of Directors. Mr. van de Water will also serve as Chair of the Audit Committee of the Board. Mr. van de Water holds a B.Comm. from Concordia University, Montreal, and is a member of the Canadian Institute of Chartered Accountants. He has had a forty year career in financial roles with a variety of companies including a multinational mining, metal processing and metal trading company and extensive experience with mining companies operating in Canada, Africa and Europe, all listed on the TSX, TSXV or LSE. He has held the positions of Controller, Vice President Finance, Chief Financial Officer and President at various times, and was the Finance Director of a large metal dealer on the London Metal Exchange. Mr. van de Water has been the Chief Financial Officer of Zaruma Resources Inc. since July, 2002.

Mr. van de Water has been granted 250,000 stock options at a price of $0.35 per share and Mr. Peter Brodie-Brown, an officer of Tribute, has been granted 200,000 stock options at a price of $0.35 per share. These options have a term of five years and vest over eighteen months.

TRIBUTE ADOPTS SHAREHOLDER RIGHTS PLAN

Tribute is also pleased to announce that its Board of Directors has adopted a shareholder rights plan (the "Rights Plan") designed to encourage the fair and equal treatment of shareholders in connection with any take-over bid for the outstanding securities of the Company. The Rights Plan provides the Board of Directors with additional time to assess the advantages and disadvantages to any particular offer and to seek out alternative proposals in the best interests of all shareholders.

Tribute has not adopted the Rights Plan in response to any specific proposal to acquire control of its outstanding shares. The Rights Plan is similar to plans adopted by other Canadian companies and ratified by their shareholders. It is not the intention of the Rights Plan to entrench management or prevent a change of control of Tribute to the detriment of shareholders. The Rights Plan does not apply to take-over bids that meet certain requirements including that the bid be made by way of a take-over bid circular and be left open for at least 60 days so as to ensure that shareholders have an adequate opportunity to assess the merits of the bid.

The Rights Plan has been conditionally accepted by the TSX Venture Exchange subject to obtaining shareholder ratification of the Rights Plan at the Annual General and Special Meeting to be held on June 8, 2007. If ratified, the Rights Plan will have an initial term which expires at the annual meeting of shareholders of Tribute to be held in 2010, and may be extended for a second term lasting until the annual meeting of shareholders to be held in 2013. A copy of the Rights Plan will be available for viewing on SEDAR at www.sedar.com, and can also be obtained from Tribute.

Forward Looking Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Tribute undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

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

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