Mr. Lawrence Roulston reports

MTB METALS ANNOUNCES CLOSING OF FLOW THROUGH PLACEMENT

MTB Metals Corp. has closed a non-brokered private placement for gross proceeds of $280,000 through the issuance of 11.2 million flow-through units at a price of 2.5 cents per flow-through unit.

Each flow-through unit consists of one share on a flow-through basis and one-half of a warrant, exercisable for 18 months at five cents into a non-flow-through share. The offering remains subject to final acceptance from the TSX Venture Exchange. All securities issued in connection with the offering are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

The proceeds will be used exclusively to advance the company's Telegraph and Southmore projects. Up to $80,000 of the proceeds may be paid to non-arm's-length parties for exploration services in the normal course of business.

Lawrence Roulston, chief executive officer, president and a director of the company, Rene Bernard, a director of the company, Mark Brown, a director of the company, and Lucia Theny, vice-president of exploration of the company, purchased or acquired direction or control over a total of 960,000 flow-through units as part of the offering. The placement to the interested parties constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Notwithstanding the foregoing, the directors of the company have determined that the interested parties' participation in the offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101. The company did not file a material change report 21 days prior to the closing of the offering as the details of the participation of interested parties had not been confirmed at that time.

About MTB Metals Corp.

MTB is advancing two copper-gold projects in the prolific Golden Triangle of Northern British Columbia:

• Telegraph: MTB controls 350 square kilometres of property located in the vicinity of four notable porphyry deposits being advanced by major mining companies: Galore (Teck/Newmont), Schaft (Teck), Saddle (Newmont) and the operating Red Chris copper-gold mine (Newmont). Fieldwork by MTB, together with earlier results, provides compelling evidence for the presence of one or more porphyries, similar to others in the area. MTB has an option to earn 60 per cent of claims, representing 27 per cent of the property, and controls 100 per cent of the balance of the property.
• Southmore: Southmore is a 50-square-kilometre property hosts several significant copper and gold occurrences. Surface samples include a sample with 12.7 per cent copper and another with 29.4 grams per tonne gold.

MTB also holds royalties on four projects in the Golden Triangle, including two past-producing mines, and it holds 480,072 shares of Dolly Varden Silver.

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