FOR IMMEDIATE RELEASE |
RELEASE 10-01 |
MINES MANAGEMENT, INC. ANNOUNCES EXTENSION AND REPRICE OF WARRANTS
Spokane, Washington, February 10, 2010 � Mines Management, Inc. ("Mines Management" or the "Company") (NYSE Amex: MGN, TSX: MGT) announces that it has extended the expiration date of warrants issued in connection with a financing conducted in 2004.
Warrants to purchase 362,250 shares, previously scheduled to expire February 10, 2010, have had their expiration date extended an additional 120 days to June 10, 2010, although no warrants may be exercised between February 11, 2010 and February 25, 2010.
In addition, the exercise price of the warrants has been reduced to US$2.56 per share.
No warrants are owned by any insiders of the Company.
Any inquiries should be made to the Company directly by calling (509) 838-6050.
About Mines Management Inc.
Mines Management, Inc. is a U.S. based mineral company focused on the acquisition, exploration and development of precious and base metals mineral deposits. Its primary focus is on the advancement of the Montanore silver-copper project located in northwestern Montana. For additional information regarding Mines Management, Inc., and its projects, please visit the Company's website at www.minesmanagement.com.
FORWARD LOOKING STATEMENTS - Some information contained in or incorporated by reference into this release may contain forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified by the use of words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "schedules," "targets," "predicts," "intends," "continue," or the negative of such terms, or other comparable terminology. However, we cannot assure that the expectations will prove to be correct. Actual results could differ materially from those anticipated in these forward looking statements as a result of the factors set forth below and other factors set forth and incorporated by reference into this report: Worldwide economic and political events affecting the supply of and demand for silver and copper, and the availability and cost of financing for mining projects; Volatility in the market price for silver and copper; Financial market conditions and the availability of financing on acceptable terms or on any terms; Uncertainty regarding whether reserves will be established at Montanore; Uncertainties associated with developing new mines; Variations in ore grade and other characteristics affecting mining, crushing, milling and smelting and mineral recoveries; Geological, technical, permitting, mining and processing problems; The availability, terms, conditions and timing of required governmental permits and approvals; Uncertainty regarding future changes in applicable law or implementation of existing law; The availability of experienced employees; The factors discussed under "Risk Factors" in our Annual Report on Form 10-K for the period ending December 31, 2008. |