| ||December 15, 2004|
Copper Prince Drilling Completed
| ||MBMI RESOURCES INC. "MBMI" (MBR: TSXV), reports that drilling has now been completed on its Copper Prince, Sudbury, Ontario Property. The diamond drill program totaled approximately 772 meters and comprised 10 holes testing near surface geophysical copper/gold and platinum group metals targets. The original drill program contemplated 16-18 holes, but due to wet conditions other targeted areas were inaccessible. These areas will be tested in future programs subject to financing. The company anticipates receiving assay results shortly and will report the results when available. David Beilhartz, P. Geo. is MBMI's Qualified Person for this drill program as defined by National Instrument 43-101.|
The Copper Prince property consists of 16 contiguous patented claims located in Falconbridge Township, Sudbury Mining Division, Ontario. The claim group lies 2.4 miles southeast of Falconbridge town and smelter, and 1.2 miles in the footwall to the south of the Sudbury Igneous Complex (SIC) and the mined out Falconbridge Main copper-nickel orebody.
Extension of Share Purchase Warrants
MBMI is applying to the TSX Venture Exchange for a one year extension to the term of expiry of 3,827,250 warrants exercisable at $0.25 for one year, and expiring January 1, January 7 and January17, 2005, pertaining to two private placements originally announced December 23, 2003.
MBMI maintains a major interest in three nickel properties in the Philippines, and also holds the rights to three Canadian projects; the McMillan gold mine property in Espanola, Ontario, the Copper Prince Cu-Ni-Au/PGM property in Sudbury, Ontario, and the Squall Lake, Manitoba gold project.
For further information:
David G. Tafel - VP Corporate Development
Tel: 604-683-1991; Fax: 604-683-8544; Toll free: 1-877-399-1991
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
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