MANTLE
RESOURCES INC.
FOR IMMEDIATE RELEASE
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Mantle Resources
Inc. Closes Private Placements
Vancouver, B.C. �December 4, 2007 � Mantle Resources Inc. (TSX Venture:
MTS; Frankfurt: AOF7E1) (the "Company") is pleased
to announce that, further to its news releases dated November 12, 2007 and
November 27, 2007, it has received final TSX Venture Exchange acceptance with
respect to the closing of its non-brokered private placements, raising $3,383,500.� The financings consisted of 1,875,000
flow-through shares at a price of $1.60 per share and 295,000 non-flow-through
shares at a price of $1.30 per share.�
Lundin Mining Corp. (TSX: LUN) purchased 295,000 shares pursuant to the
private placement. Added to its current position, this results in Lundin Mining maintaining a just under 10-per-cent equity
position in Mantle Resources.
The proceeds
are planned to be used for further exploration of the Akie
SEDEX zinc-lead property and to explore the balance of the Company�s portfolio
of mineral holdings (102,220
hectares), located within the highly prospective Kechika Trough SEDEX zinc-lead basin of northeastern
British Columbia.
The Company
paid an aggregate of $145,000 as finder�s fees on a portion of the private
placement.� The
securities issued are subject to a four month hold period expiring April 5,
2008.
About the Akie
Property
The Akie zinc-lead property
is situated within the southern-most part (Kechika
Trough) of the regionally extensive Paleozoic Selwyn
Basin, one of the most prolific sedimentary basins in the world for the
occurrence of SEDEX zinc-lead-silver and stratiform barite
deposits.
Drilling on the Akie
property by Inmet Mining Corporation during the
period 1994 to 1996 and by Mantle in 2005 and 2006 and this year has identified
a significant body of baritic SEDEX mineralization
(Cardiac Creek Zone). The deposit is hosted by variably siliceous, fine grained
clastic rocks of the Middle to Late Devonian �Gunsteel Formation.
Two similar deposits, Cirque and South Cirque, located
some 20 kilometers northwest of Akie and owned under a joint venture by Teck
Cominco and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in
excess of 50 million tonnes averaging approximately 10% combined zinc+lead.
Qualified Person
John R. Fraser, P.Geo. (BC)
is the Qualified Person for the Company, as defined by NI 43-101, and is
responsible for the technical information contained in this release.
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release.
MANTLE RESOURCES INC.
ON BEHALF OF
THE BOARD OF DIRECTORS
�Peeyush Varshney�
Peeyush Varshney, LLB
President
and Director