Miocene Metals Reports Results of Sampling on MacKenzie Copper-Gold property

TORONTO, Dec. 9, 2011 /CNW/ - Miocene Metals Limited (TSXV: MII) (the "Company" or "Miocene Metals") today announced assay results from samples collected at the end of the summer 2011 work program from a 120 metre long section at the southern end of 1,200 metre long mineralized system on its MacKenzie Property in Southwestern BC.  The results from an area recently exposed by melting snow and ice cover confirm and extend the limits of the extensive fracture-controlled copper-gold mineralized system on the property. Assay results from six grab samples of this part of the system range from 1.92% to 8.66% copper.

Complete assay results for the six samples are given in the table below.

The observed metal association and the spatial relationship of the mineralization with a network of mineralized, fine-grained granodiorite dykes that cross-cut the older Coastal Range batholith rocks on the property is highly suggestive of a porphyry origin to the mineralization.

Commenting on the results, Bruce Jago, President and CEO of Miocene stated, "This summer's work program has greatly increased our understanding of the mineralization on the property, which has now been demonstrated to extend over an area of 700 x 1200 metres. Although the early onset of winter conditions did not allow for drill testing of the mineralization this season, a drill platform has been established and we look forward to drill testing it early in the 2012 season."

A map showing the sample locations, and proposed drill site as well as photographs of the mineralization can be seen on the Miocene Metals website at www.miocenemetals.com.

The grab sample assay results quoted above represent samples of mineralization collected from outcrop by Miocene Metals staff.  Grab samples are selective by nature and are unlikely to represent average grades on the property. In each case samples of mineralized outcrop weighing approximately 0.5 to 2 kg were collected using a rock hammer. The rock samples for which assay results are reported in this press release were crushed to 70% passing 2 mm, after which a split was taken with a riffle splitter and pulverized to 85% passing 75 microns.  The samples were then analyzed for 48 elements using Chemex's ME-MS61 package, which is an inductively-coupled plasma mass spectrometry (ICP-MS) method utilizing a near total four acid digestion. The samples were assayed for Au by standard lead collection/fire assay fusion (Au-ICP21) using a 30 gram pulp split and an inductively-coupled plasma atomic emission spectrometry (ICP-AES) finish.

The Qualified Person responsible for the technical content of this press release is Jose Sayo Garcia, P.Geo, Vice President Exploration of Miocene Metals.

About Miocene Metals Limited

Miocene Metals is focused on the exploration and development of seven porphyry copper-gold-molybdenum properties in south-western British Columbia that occur within the Tertiary-aged Cascade Magmatic Arc. The Cascade Arc shares many geological characteristics with Tertiary-age porphyry belts that stretch the length of Chile and Peru in South America and hosts some of the world's largest porphyry copper-gold-molybdenum deposits. The Cascade Magmatic Arc hosts a number of significant porphyry Cu-Au and Mo deposits in Washington State, and Alaska (Glacier Peak and Margaret, and Quartz Hill respectively) but remains largely unexplored in British Columbia.

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FORWARD-LOOKING STATEMENTS

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of the Corporation, including, without limitation, those listed under "Risk Factors" and " Forward-Looking Statements" in the Corporation's Final Prospectus (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, information concerning the Corporation's expectations and estimates regarding the Corporation's drilling program. The Corporation cautions investors about important factors that could cause actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that the expectations set out in the Corporation's Final Prospectus or herein will prove to be correct and accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and the Corporation does not assume any obligation to update or revise them to reflect new events or circumstances. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.