Mineral Mountain Raises C$875,000 in Non-Brokered Private Placement and C$1,133,875 in Exercise of Warrants for C$2,000,875 in

Mineral Mountain Raises C$875,000 in Non-Brokered Private Placement and C$1,133,875 in Exercise of Warrants for…

   Mineral Mountain Raises C$875,000 in Non-Brokered Private Placement and
    C$1,133,875 in Exercise of Warrants for C$2,000,875 in Gross Proceeds

  Canada NewsWire

  VANCOUVER, BC, Oct. 13, 2020

MMV-TSX-VMNRLF-OTCQBM8M:FRANKFURT

VANCOUVER, BC, Oct. 13, 2020 /CNW/ - Mineral Mountain Resources Ltd. ("Mineral
Mountain" or the "Company") (TSXV: MMV) is pleased to announce that it has
closed the non-brokered unit ("Unit") private placement (the "Private
Placement") announced previously on August 20, 2020 and has issued 2,916,667
Units at a price of C$ 0.30 for raised gross proceeds of C$875,000. A finder's
fee of 7% was paid to arm's length third parties in connection with the
Private Placement.

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
one (1) year from closing at an exercise price of C$0.40 per Warrant Share.

In addition, a total of 4,535,500 warrants priced at C$ 0.25 were exercised
for a total of C$ 1,133,875 for a grand total of C$2,000,875 in gross
proceeds.

The net proceeds raised from the Private Placement are intended to be used to
fund Company lease renewals in the Rochford District, a radiometric airborne
survey, drill permitting, new lease acquisitions and, for corporate and
general working capital purposes. A more detailed news release outlining the
Company's plans for the Rochford Project will be disseminated shortly.

About Mineral Mountain  

Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral
Mountain Resources (SD) Inc., is an exploration and development Company with a
strong management and technical team which has many years of experience in the
Homestake area. The parent Company, Mineral Mountain Resources Ltd., is based
in Vancouver, B.C.

The Company now owns one of the largest land package in the Rochford Gold
District located in the Black Hills of South Dakota, U.S.A. about 26
kilometers south of the richest and largest gold deposits in the world, the
Homestake Mine gold system, which produced over 42 million ounce of gold! The
Rochford District is situated within the most prospective exploration regions
for gold in the United States.

On Behalf of the Board of Directors MINERAL MOUNTAIN RESOURCES LTD.

"Nelson W. Baker" , President and CEO

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.

Forward looking information

This release includes certain statements that may be deemed to be
"forward-looking information" under Canadian securities laws. All statements
in this release, other than statements of historical facts, that address
events or developments that the Company expects to occur, constitute forward
looking- information. Forward looking information consists of statements that
are not historical facts and are generally, but not always, identified by the
words "expects", "plans", "could" or "should" occur. Although the Company
believes the expectations expressed in such forward-looking information are
based on reasonable assumptions, such information does not constitute
guarantees of future performance and actual results may differ materially from
those in forward- looking information. Factors that cause the actual results
to differ materially from those in forward-looking information include gold
prices, results of exploration and development activities, regulatory changes,
defects in title, availability of materials and equipment, timeliness of
government approvals, continued availability of capital and financing and
general economic, market or business conditions. The Company cautions the
foregoing list of important factors is not exhaustive. Investors and others
who base themselves on the Company's forward-looking information should
carefully consider the above factors as well as the uncertainties they
represent and the risk they entail. The Company believes that the expectations
reflected in the forward-looking information are reasonable, but no assurance
can be given that these expectations will prove to be correct. Please see the
public filings of the Company at www.sedar.com for further information.

SOURCE Mineral Mountain Resources Ltd.

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Brad Baker, Vice-President Corporate Development & Director, (778) 383-3975,
[email protected]; Or visit our website: www.mineralmtn.com

For further information: Brad Baker, Vice-President Corporate Development &
Director, (778) 383-3975, [email protected]; Or visit our website:
www.mineralmtn.com

CO: Mineral Mountain Resources Ltd.

ST: British Columbia

NI: MNG NASDAQ

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