Mineral Mountain Resources closes $2.2M first tranche of private placement

News Release

MINERAL MOUNTAIN CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

(Vancouver, December 7, 2017): Mineral Mountain Resources Ltd. (“Mineral Mountain” or the “Company”) (TSXV: “MMV”) is pleased to announce that it has closed the first tranche of its nonbrokered unit (“Unit”) private placement (the “Private Placement”) announced previously on October 24th, 2017 and has issued 11,130,000 units of the Company (“Units”) at a price of C$0.20 per Unit to raise gross proceeds of C$2,226,000. Each Unit consists of one common share of the Company and one common share purchase warrant (a “Warrant”), with each Warrant entitling the holder to purchase one common share of the Company (a “Warrant Share”) for a period of two (2) years from closing at an exercise price of C$0.35 per Warrant Share in the first year and C$0.50 per Warrant Share in the second year, subject to the following accelerated expiry provision: in the event that the Company’s common shares trade for a period of at least 20 consecutive trading days at a closing price equal to or in excess of C$0.50 per share at any time after four months following closing of the Private Placement up to the end of the first year term of the Warrants, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

On October 24, 2017, the Company announced a Private Placement of up to 15,000,000 units (“Units”) to be sold at a price of C$0.20 per Unit to raise gross proceeds of up to C$3,000,000. The Company has received a 30 day extension from the TSX Venture Exchange (“TSXV”) to complete the closing of the Private Placement.

A finder’s fee of 6% was paid to arm’s length third parties on a portion of the Private Placement.

The net proceeds raised from the Private Placement are intended to be used to expand the historic high grade Standby Mine gold deposit down plunge and prove the Homestake Mine model exists in the Rochford District, and, for corporate and general working capital purposes.

The securities issued pursuant to the Private Placement are subject to a hold period expiring on April 8, 2018 pursuant to applicable Canadian securities laws.

The Private Placement is subject to final TSXV approval.

On Behalf of the Board of Directors
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO

For further information, please contact:
Brad Baker, Vice-President Corporate Development & Director
(778) 383-3975 bbaker@mineralmtn.com
Or visit our website: www.mineralmtn.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.