Mr. Douglas Dobbs reports

MINES MANAGEMENT, INC. RECEIVES NOTICE FROM NYSE MKT

On July 1, 2015, Mines Management Inc. received a letter from NYSE MKT LLC stating that it is not in compliance with the continued listing standards as set forth in Section 1003(a)(i-iv) of the NYSE MKT company guide. In order to maintain its listing, the company must submit a plan of compliance by Aug. 3, 2015, addressing how it intends to regain compliance with Section 1003(a)(i-iv) of the company guide by Dec. 31, 2016, for equity standards and Dec. 31, 2015, for the financial impairment standard.

If the plan is accepted, the company may be able to continue its listing but will be subject to periodic reviews by the exchange. If the plan is not accepted, or if it is accepted but the company is not in compliance with the continued listing standards by the plan period end dates, or if the company does not make progress consistent with the plan, the exchange may initiate delisting procedures as appropriate.

The company's management is pursuing options to address the deficiencies and intends to submit a compliance plan on or before the deadline set by the exchange.