Mineral Mountain Resources Ltd. is pleased to announce the closing of its brokered private placement (the Offering) announced on October 27, 2011 with a syndicate of agents led by Canaccord Genuity Corp. and including Industrial Alliance Securities Inc. (together, the Agents). The Company completed the sale of 3,078,000 flow-through shares (the FT Shares) at a price of $0.60 per FT Share for gross proceeds of $1,846,800 and 2,060,000 units (the Units) of the Company at a price of $0.50 per Unit, including the over-allotment option of an additional 60,000 Units, for gross proceeds of $1,030,000.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a Warrant). Each Warrant is exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $0.60 in the first year and $0.70 in the second year.

In connection with the Offering, the Agents received a cash commission representing 7% of the gross proceeds raised in the Offering, and a number of warrants (the Agent Warrants) equal to 7% of the securities sold under the Offering. Each Agent Warrant is exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $0.60 in the first year and $0.70 in the second year.

The funds raised from the issuance of the Units will be used for exploration of the Company's mineral properties and for general working capital purposes and the funds raised from the issuance of the FT Shares will be used, pursuant to the provisions in the Income Tax Act (Canada), to incur Canadian Exploration Expenses which will be renounced in favour of the subscribers for the taxation year ending December 31, 2011. The securities issued in the Offering are subject to a four month hold period in accordance with applicable Canadian securities laws.

About Mineral Mountain

The Company is a British Columbia-based company primarily engaged in the acquisition of mineral resource properties in Canada and the exploration of such properties for minerals. Minerals of interest to the company include precious metals including gold and silver and base metals including zinc, lead and copper.

On Behalf of the Board of Directors of

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

Kin Communications Inc.
(604) 684-6730 ir@kincommunications.com

or visit our website: www.mineralmtn.com