FOR
IMMEDIATE RELEASE
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RELEASE 07-12
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MINES MANAGEMENT PURCHASES UNDERLYING
ROYALTY ON
MONTANORE PROJECT
Spokane, Washington �
November 9, 2007 � Mines Management, Inc. (AMEX: MGN, TSX: MGT) is
pleased to announce that it has acquired a net profits royalty
("NPR") held by former investors in the Montanore
Silver-Copper Project in northwestern Montana. The 5%
NPR was purchased from Montana Reserves Company ("MRC") of Spokane, Washington,
for a payment of $500,000 in cash.
Mines Management's President and CEO, Mr. Glenn
Dobbs, stated, "We are pleased to conclude purchase of this royalty
as yet another step in adding value to the Company and our shareholders. Purchase
of this NPR reduces potential financial obligations, positively affecting
the future value of the Montanore
Project."
The NPR previously entitled MRC to receive 5% of
the profits generated from mining operations after all exploration,
development and certain mining costs were recovered. In exchange, MRC has
agreed to terminate their legal action, originally filed on August 11,
2005, against Mines Management, Noranda
Minerals, and Normin Corporation, as previously
reported in the Company's filings with the Securities and Exchange
Commission.
Mines Management is a U.S. based mineral
exploration company focused on the acquisition, exploration, and
advancement of silver dominant mineral projects. The company�s primary
focus is currently on the advancement of the Montanore
Silver-Copper Project located in the United States. The Montanore is currently undergoing an advanced stage
evaluation program to support a bankable feasibility study and permitting
process.
Statements Regarding Forward-Looking
Information: Some statements
contained in this press release are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and other
applicable securities laws. Investors are cautioned that forward-looking
statements are inherently uncertain and involve risks and uncertainties
that could cause actual results to differ materially, including comments
regarding the use of proceeds from the offering. Actual results may
differ materially from those presented. Factors that could cause results
to differ materially include fluctuations in silver and copper prices. Mines
Management, Inc. assumes no obligation to update this information. There
can be no assurance that future developments affecting Mines Management,
Inc. will be those anticipated by management. Please refer to the
discussion of risk factors in the Company's Form 10-K for the year ended
December 31, 2006, as amended.
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