Mr. Michael Surratt reports

MERCATOR SECURES POWER TO COMPLETE PHASE II EXPANSION AT MINERAL PARK

Mercator Minerals Ltd.'s wholly owned subsidiary Bluefish Energy Corp. has entered into a contract to purchase an LM6000 PF Sprint Gas Turbine from GE Packaged Power Inc. The turbine will supply power for phase II at Mineral Park and is scheduled for delivery at the end of November, 2010. The gas turbine has a design capacity of 35 megawatts (MW) against the overall requirements of the phase II operation at 50,000 tons per day of 57 MW. Mineral Park currently purchases approximately 25 MW from the grid. The turbine is expected to be fully operational by the end of the first quarter of 2011.

Bluefish has executed a committed term sheet (subject only to standard documentation) with Trafigura AG to provide the equipment financing on a non-recourse basis, secured by its assets, in the amount of $21-million (U.S.) over a term of seven years.

Concurrent with Bluefish securing the financing for the purchase of the gas turbine, Mineral Park has entered into a long-term off-take contract with Trafigura for annual volumes of 70,000 dry metric tonnes of copper concentrate over a term of seven years. Delivery conditions will provide material savings on freight, smelting and refining costs when sold to domestic outlets.

"The purchase of the gas turbine is the optimal power solution to complete the phase II expansion at Mineral Park allowing for the effective management of a significant cost component, including the opportunity to hedge power costs," said Michael Surratt, president and chief executive officer of Mercator. "Beyond the ability to finance a power solution on favourable terms, the off-take partnership with Trafigura will positively impact total cash costs," added Mr. Surratt.

Trafigura AG is a wholly owned subsidiary of Trafigura Beheer BV, one of the world's leading international commodity traders, specializing in the minerals, metals and oil markets.