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File: 2014 Bankruptcy announcement.docx

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NEWS RELEASE          #2014-22

MERCATOR MINERALS ANNOUNCES BANKRUPTCY PROCEEDINGS

Vancouver, BC, September 5, 2014 - Mercator Minerals Ltd (TSX: ML)

On August 26, 2014, Mercator Minerals Ltd. and its wholly owned subsidiary, Creston Moly Corp. (together, the "Compani
--->es") filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act (Canada) ("BIA"). 

The Companies have not been able obtain further sources of funding to allow a proposal to be made to the Companies' cr
--->editors. Pursuant to section 50.4(8) of the BIA, the Companies were deemed to have filed assignments in bankruptcy on 
--->September 5, 2014. Deloitte Restructuring Inc. was appointed as Trustee of the estates of the Companies by the Officia
--->l Receiver. 

All inquiries regarding the proceedings should be directed to the Trustee at 604-640-3062. Court materials and other i
--->nformation about the proceedings will be posted to the Trustee's website at: www.insolvencies.deloitte.ca/en-ca/pages/
--->mercator.aspx