Mines Management Receives Results of Groundbreaking Grizzly Bear Study

Mines Management, Inc. (NYSE Amex:MGN) (TSX:MGT) (the 'Company?) is
pleased to announce completion of a study to monitor the grizzly bear in
the Montanore project area, which is located in a portion of the
Cabinet/Yaak Ecosystem recovery area. The study utilized technologically
advanced sampling methods that included DNA analysis, and seeks to
assist with monitoring and mitigation efforts to understand and support
the health of the grizzly bear population.

During the summer of 2009, scientists from the University of Washington
and Kline Environmental Research were contracted by the Company to
conduct a study in and around the Montanore Project area to assess the
current condition of the grizzly bear population using DNA analysis of
grizzly bear scat.

From the results of the study, a number of conclusions were reached,
including the following:

• 
  There are very likely significantly more grizzly bears in the Cabinet
  Mountains than has been previously reported.
  
• 
  Either through augmentation or transient bears, the region may be at a
  stable condition and at its natural carrying capacity for grizzly
  bears.
  
• 
  Current grizzly bear management activities in the recovery area should
  be reviewed due to recent grizzly mortalities and the increase of
  bears leaving the recovery area.
  
• 
  DNA studies can identify individual grizzly bears from collected scat
  samples, which can be used to assess habitat and numbers of bears in
  the study area. The method proved to be an effective, non-intrusive
  method for monitoring grizzly bears, as compared to radio collars or
  hair sampling.
  

Overview

As part of its environmental review process and its extensive efforts to
minimize the Montanore project′s impact to the environment, the Company
has proposed measures to protect and monitor local threatened species,
including the grizzly bear.

As part of its activities to develop effective monitoring methods, the
Company engaged the University of Washington to implement and test a
grizzly bear monitoring program. The collection of data included the use
of specially trained dogs to detect and locate bear scat in the
approximately 675 square kilometer sample area in an around the
Cabinet/Yaak Ecosystem. Recently concluded testing and analysis of the
data found that a larger and more diverse population of grizzly bears is
likely to exist in the region than previously reported.

Results of the study are very important and can assist government
wildlife agencies in the development of an effective mitigation program
that reflects the current state of health of the grizzly bear population
in the region of the project, and can assist them in achieving their
stated goal for sustainable recovery of a population of grizzly bears.
The study also provides a new and better understood baseline for the
current population and health of the grizzly bear in the region.

Mr. Glenn Dobbs, the Company′s President and CEO, stated, 'We are
pleased that recent results of the study show an improved population of
grizzly bears in the Cabinet/Yaak recovery zone. The method of analysis
has been demonstrated to be highly effective at better understanding the
health and population of the bears, and will assist our efforts to
develop a management plan to further stabilize the grizzly bear in
northwest Montana. As the Montanore project approaches development, we
look forward to assisting with this management effort over the long
term.?

The Montanore project is a large underground silver and copper mineral
project which, if approved, could employ more than 300 permanent workers
for the life of the mine.

FORWARD LOOKING STATEMENTS - Some information contained in or
incorporated by reference into this release may contain forward looking
statements as defined in the Private Securities Litigation Reform Act of
1995. These statements include, among other things, comments regarding
the grizzly bear population in and around the Montanore Project area and
the stability thereof, the employment prospects relative to the
Montanore Project and the life of the Montanore mine and the
environmental characteristics thereof. The use of any of the words
'anticipate,' 'estimate,' 'expect,' 'may,' 'project,' 'should,'
'believe,' and similar expressions are intended to identify
uncertainties. We believe the expectations reflected in those forward
looking statements are reasonable. However, we cannot assure that the
expectations will prove to be correct. Actual results could differ
materially from those anticipated in these forward looking statements as
a result of the factors set forth below, and other factors set forth and
incorporated by reference elsewhere in documents filed by Mines
Management with the U.S. Securities and Exchange Commission, and with
other regulatory authorities, including worldwide economic and political
events affecting the supply of and demand for silver and copper, and the
availability and cost of financing for mining projects, volatility in
the market price for silver and copper, financial market conditions and
the availability of financing on acceptable terms or on any terms,
uncertainty regarding whether reserves will be established at Montanore,
uncertainties associated with developing new mines, variations in ore
grade and other characteristics affecting mining, crushing, milling and
smelting and mineral recoveries, geological, technical, permitting,
mining and processing problems, the availability, terms, conditions and
timing of required governmental permits and approvals, uncertainty
regarding the grizzly bear study including methods employed, sample size
and animal behavior patterns, uncertainty regarding future changes in
applicable law or implementation of existing law, the availability of
experienced employees, the factors discussed under 'Risk Factors' in the
Company′s Annual Report on Form 10-K for the period ending December 31,
2009.

Mines Management, Inc.

President and CEO

Glenn Dobbs,
509-838-6050

Fax: 509-838-0486

info@minesmanagement.com

www.minesmanagement.com