An anonymous director reports

MERCATOR MINERALS ANNOUNCES BANKRUPTCY PROCEEDINGS

On Aug. 26, 2014, Mercator Minerals Ltd. and its wholly owned subsidiary, Creston Moly Corp., filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act (Canada).

The companies have not been able to obtain further sources of financing to allow a proposal to be made to the companies' creditors. Pursuant to Section 50.4 (8) of the BIA, the companies were deemed to have filed assignments in bankruptcy on Sept. 5, 2014. Deloitte Restructuring Inc. was appointed as trustee of the estates of the companies by the official receiver.

All inquiries regarding the proceedings should be directed to the trustee at 604-640-3062. Court materials and other information about the proceedings will be posted to the trustee's website.