Mineral Mountain Announces Closing to Financing Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 7, 2014) - Mineral Mountain Resources Ltd. ("Mineral Mountain") (TSX VENTURE:MMV)(OTCQX:MNRLF) Further to the Company's news release of January 21, 2014, and February 27, 2014 the Company announces that it has closed its securities exchange with Global Resources Investment Trust plc ("GRIT").

The Company issued 28,600,000 common shares at a deemed price of $0.07 per share to GRIT, (which results in GRIT holding approximately 19.94% of Mineral Mountain's common shares) in exchange for 1,121,128 ordinary shares of GRIT (the "GRIT Shares"), at the deemed price of £1.00 per GRIT Share. The securities issued to GRIT are subject to resale restrictions expiring July 8, 2014.

The Company will now seek to sell the GRIT Shares through the facilities of the London Stock Exchange. During the first six months, all sales of GRIT Shares will be arranged by GRIT. While the Company will seek to maximize the proceeds it receives from the sale of its GRIT Shares, there is no assurance as to the timing of disposition or the amount that will be realized. Funds realized from the sale of the GRIT Shares will be used by the Company for exploration work.

The GRIT Shares were distributed pursuant to a prospectus published by GRIT in the UK on February 28, 2014. GRIT's application to list its ordinary shares on the premium listing segment of the Official List and to trade on the London Stock Exchange's main market became effective today. GRIT's distribution of the GRIT Shares to the Company and other Canadian based issuers was also made pursuant to a discretionary exemption order granted by the Ontario and British Columbia Securities Commissions by order dated November 13, 2013.

GRIT has been established to exploit investment opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth. GRIT has conducted share exchange transactions with 41 junior resource companies (32 headquartered in Canada), acquiring an initial portfolio of their securities in exchange for 39,520,012 ordinary shares having a deemed value of £39,520,012 (approximately C$73,250,000).

In connection with the transaction, Mineral Mountain has agreed to pay to certain arm's length individuals a finder's fee consisting of Mineral Mountain shares in accordance with the policies of the TSXV. The finder's fee payable by the Company will only be paid in conjunction with the actual sale by the Company of the GRIT shares, and will be based on the actual cash value received from the sale of such GRIT shares.

About Mineral Mountain and the Holy Terror Project

Mineral Mountain, through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is focused on the advance exploration and, if warranted, development of its most advanced asset, the Holy Terror Project located in the Keystone Mining district in the southeastern part of the Black Hills of South Dakota, U.S.A. The Holy Terror Project is centered along the southwestern extension of the Homestake Gold Trend and covers approximately 5000 acres straddling a major gold bearing structural corridor measuring about 15 km in strike length and 1.5 km in width. The Keystone District contains historic, turn of the century gold mines, eight of which occur within the Holy Terror Project. Production of these mines came from early Proterozoic gold mineralization associated with iron formation, and shear zones similar to the deposits at the western hemisphere's deepest and richest mine, the Homestake gold mine, which, over 120 consecutive years produced 40 million ounces of gold in the northern Black Hills. The Holy Terror Project is very well located near Rapid City where it can be easily accessed by a network of roads and has hydro-electricity and modern internet services to the drill site. As well, the area has a skilled labor force and can be explored year round at low cost. According to a recent poll released by CNBC, South Dakota was ranked first overall in the United States for conducting business in 2013, has low political risk and a jurisdiction that embraces mineral development.

On Behalf of the Board of Directors, MINERAL MOUNTAIN RESOURCES LTD.

Nelson W. Baker, President and CEO

Reader Advisory

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed to be "forward-looking information" under Canadian securities laws. All statements in this release, other than statements of historical facts, that address events or developments that Mineral Mountain expects to occur, constitute forward looking-information. Forward looking information consists of statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although Mineral Mountain believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information does not constitute guarantees of future performance and actual results may differ materially from those in forward-looking information. Factors that cause the actual results to differ materially from those in forward-looking information include the ability of GRIT to complete its stock exchange listing, the ability for Mineral Mountain to resell its shares of GRIT, gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. Mineral Mountain cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on Mineral Mountain's forward-looking information should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Mineral Mountain believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of Mineral Mountain at www.sedar.com for further information.