Mines Management Announces Release of Draft Environmental Impact Statement for the Montanore Silver-Copper Project

The 90-day comment period, which ends May 28, 2009, includes a public meeting on April 16, 2009, in Libby, Montana. The remaining steps in the re-permitting process include compilation and responses to public comments, editing and completion of the final EIS, and, if a favorable Record of Decision is granted, issuance of certain other operational permits.

Completion of the Draft EIS marks the latest and most significant step forward in the final phase of re-permitting the Montanore Project, which has undergone extensive analysis since its original approval in 1993.

Mines Management’s President and CEO, Mr. Glenn M. Dobbs, stated, “Completion of the draft EIS represents the culmination of more than four years of work by the Company and its consultants, the U.S. Forest Service and the Montana Department of Environmental Quality. This entirely new assessment of the impacts of the Montanore Project takes into account refinements in mining methods and project design, and a progressive approach to minimizing the project’s impact to the environment. We expect that the Montanore Project will set the standard by which responsible mining will be conducted in the region. We appreciate the hard work that all parties have contributed thus far in the process, and look forward to completing the final phase of the re-permitting process.”

Work conducted on the project to date by Mines Management and previous operators includes approximately 60,000 feet of diamond core drilling, construction of a 14,000 foot evaluation adit, successful completion of the original permitting process in 1993, extensive engineering, mine planning and geologic modeling. Currently, in addition to the re-permitting process, Mines Management has initiated an advanced stage exploration and evaluation drilling program, the results of which could support development of a feasibility study.

If developed, the Montanore Project is expected to provide an estimated 500 jobs during the construction period, and 300-350 long-term, high paying jobs at the mine and associated facilities. Also, if developed, it is also expected to contribute significantly to the tax base of the local communities, the state of Montana, and federally through corporate income taxes.

Mines Management, Inc. is a U.S. based mineral exploration company in the business of acquiring, exploring and developing precious and base metals deposits. The Montanore Silver-Copper Project is the Company’s primary focus, and is located in northwestern Montana.

(888) 688-9880