Mr. Nelson Baker reports

MINERAL MOUNTAIN ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Further to the news release disseminated on May 12, 2023, Mineral Mountain Resources Ltd. has closed its non-brokered unit private placement previously announced on March 1, 2023, and there were no additional subscriptions after the closing of the first tranche of the private placement announced on May 12, 2023.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will be exercisable to acquire one share at a price of 25 cents per share for a period of 12 months from the date of issuance.

A finder's fee of 7 per cent was paid to arm's-length third parties on a portion of the private placement.

The securities issued pursuant to the private placement are subject to applicable statutory resale restrictions, including a hold period expiring on Sept. 13, 2023, pursuant to applicable Canadian securities laws.

The company announces that in connection with the closing of the private placement, Brian Corrall, director and interim chairman of the company, Terry Lyons, director of the company, and Tom Wilson, chief executive officer of the company, participated in the private placement. This transaction constituted a related party transaction as such term is defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61- 101. The company is exempt from the formal valuation and minority approval requirements of MI 61-101 in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25 per cent of the company's market capitalization

The company intends to use the net proceeds raised from the offering specifically for a 9,000-metre drill program on its flagship Standby property in the Rochford district of South Dakota, United States, together with additional continuing exploration in the Rochford district, BLM (Bureau of Land Management) drill permitting on several high-priority targets and for general working capital purposes.

We seek Safe Harbor.