Press Release
Rocmec Mining Inc. Symbols: RMI: TSX-V
D5O: FSE
ROCMEC OBTAINS ITS CERTIFICATE OF AUTHORISATION FOR ITS UNDERGROUND TREATMENT PLANT AND CLOSES PRIVATE PLACEMENT WITH THE MINERALFIELDS GROUP
Vaudreuil-Dorion, Quebec, November 4th, 2008- - Rocmec Mining inc. (TSX-V Symbol: RMI - FSE Symbol: D5O), is pleased to announce that it has received from the Ministry of Sustainable Development, Environment and Parks its certificate of authorisation (CA) to operate the 75 tpd treatment plant installed underground at its Rocmec 1 property located in Rouyn-Noranda, Quebec. With the CA now in hand, Rocmec will complete the installation and commence milling the tons of mineralised rock currently stockpiled underground. Milling will allow Rocmec to verify the grades of the tonnes extracted within the framework of its bulk sampling programme currently underway.
Subject to the approval of the TSX Venture stock exchange, Rocmec is pleased to announce that it has closed a private placement with the MineralFields Group consisting of 4,428,571 flow-through units ("FT Units") at a price of $0.07 per FT Unit for gross proceeds of $310,000. Each FT Unit is comprised of one flow-through common share of the Company and one transferable non-flow-through share purchase warrant. Each share purchase warrant entitles its holder thereof to purchase one additional common share of the Company at a price of $0.10 for a period of 12 months from the closing date and thereafter at a price of $0.15 for an additional period of twelve months.
Limited Market Dealer Inc. will obtain a cash finder's fee from the Company equal to 2% of the aggregate gross proceeds along with finder's shares equal to 2% of the FT Units subscribed for and finder's options equal to 10% of the number of FT Units subscribed for. The options are issued under the same terms as the share purchase warrants issued to the subscribers.
All the securities issued in virtue of this placement are subject to certain resale restrictions imposed under the applicable securities laws, which require that the securities not be traded before March 1, 2009
.
The proceeds from the sale of the FT units will be used by the Company for its Rocmec1 (Russian Kid) project located in Rouyn-Noranda, Qu�bec.
Subject to the approval of the TSX Venture Exchange, Rocmec announces that it will proceed with the issuance of 162,162 common shares in payment of the interest in accordance with the terms and conditions of the unsecured convertible debenture issued to Fonds r�gional de solidarit� Abitibi-T�miscamingue, s.e.c. in March 2006
About MineralFields, Pathway and First Canadian Securities �
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about the MineralFields Group is available at www.mineralfields.com. First Canadian Securities � is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of, MoneralFields Group.
About Rocmec Mining Inc. Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy positions it as the partner of choice for the development of narrow high-grade precious metal quartz vein projects. The Company's shares are listed on the TSX-Venture (RMI) and the FSE (D5O) exchange.
"Thermal fragmentation - an innovative process for mining narrow high-grade ore bodies"
The Thermal Fragmentation Mining Method video can be viewed on Rocmec's website or by clicking the following link:
http://www.rocmecmines.com/video_an.asp
Please visit us on the web at www.rocmecmines.com
For further information, please contact
John Stella, Donald Brisebois
Manager Investor Relations President and chief executive officer
(450)510-4442 (450)510-4442
Cell (514)718-7976
FAX (450)510-9901 FAX (450)510-9901
jstella@rocmecmines.com dbrisebois@rocmecmines.com
Statements in this release that are not historical facts are � forward-looking statements � within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these � forward-looking statements �.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.