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File: MMI PR 1409 Closes Offering 2014 07 30 Final Ltr.pdf

       905 West Riverside Avenue - Suite 311
       Spokane, Washington 99201
       Phone: 509 838 6050
       Fax:     509 838 0486
       Email:   info@minesmanagement.com
       Web:     www.minesmanagement.com
 
RELEASE 14-09
 
                         MINES MANAGEMENT CLOSES UNIT OFFERING


Spokane, Washington, July 30, 2014 -- Mines Management, Inc. ("Mines Management" or the
"Company") (NYSE-MARKET: MGN, TSX: MGT) is pleased to announce that it has closed the
previously announced financing in which it had agreed to sell 4,000 units consisting of one
share of the Company's Series B 6% Convertible Preferred Stock, no par value, and a warrant
to purchase approximately 636 shares of the Company's common stock, par value $0.001 per
share, at a price to the public of $1,000 per unit. Each share of Series B Convertible Preferred
Stock is convertible into shares of common stock at a conversion rate of approximately 1,271
shares of common stock for each share of Series B Convertible Preferred Stock (equivalent to a
conversion price of $0.7866 per share of common stock). The warrants are immediately
exercisable at an exercise price of $1.0816 per share and will expire 52 months from the date of
issuance. The offering yielded gross proceeds, before estimated offering expenses, of $4.0
million, and Mines Management intends to use the net proceeds from this offering for (i) the
advancement of the permitting process for its Montanore Project and preparation for the
delineation drilling program, which will include completion of the dewatering and rehabilitation of
the Libby adit and (ii) general corporate purposes, including possible acquisition and exploration
of new mining properties.

Roth Capital Partners acted as the exclusive placement agent for the offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.

About Mines Management

Mines Management, Inc. is engaged in the business of acquiring and exploring, and if
exploration is successful, developing mineral properties, primarily those containing
silver and associated base and precious metals. Its primary focus is on the advancement
of the Montanore silver-copper project located in northwestern Montana.

This press release contains forward-looking statements within the meaning of the U.S.
Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended,
including statements regarding this proposed offering. Forward-looking statements are all
statements, other than statements of historical facts, included in this press release that address
activities, events or developments that Mines Management expects or anticipates will or may
occur in the future, including such things as whether or when the offering may be completed, the
size or terms of the offering and the anticipated use of proceeds. When used in this press
release, the words "potential", "indicate", "expect", "intend", "possible", "hopes," "believe," "may,"


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 "if" and similar expressions are intended to identify forward-looking statements. These
statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of Mines Management to be materially different
from any future results, performance or achievements expressed or implied by such statements.
Such factors include, among others, uncertainty of market response to the offering, the future
use of proceeds, fluctuations in silver and copper prices, general economic conditions,
economic or political events affecting the supply of and demand for silver and copper, changes
in U.S. securities markets, failure to receive regulatory approvals or changes in the attitude of
state and local officials to the Montanore Project; as well as those factors discussed in Mines
Management's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and
other documents filed with the U.S. Securities and Exchange Commission. Although Mines
Management has attempted to identify important factors that could cause actual results to differ
materially from those described in forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. Except as required by law, Mines
Management assumes no obligation to publicly update any forward-looking statements, whether
as a result of new information, future events or otherwise.

For further information, please contact:

For more information, contact:
Douglas D. Dobbs
President, Mines Management, Inc.
Phone: 509-838-6050
Fax: 509-838-0486
Email: info@minesmanagement.com
Web: www.minesmanagement.com




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