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Metalline And Dome Agree To Transaction Terms





COEUR D'ALENE, Idaho, Dec. 4 /PRNewswire-FirstCall/ -- Metalline Mining Company (NYSE Amex: MMG) is pleased to announce that on December 4, 2009 it executed an Agreement and Plan of Merger and Reorganization with Dome Ventures Corporation ("Dome").   On November 13, 2009 Metalline announced that it had entered into a letter of intent with Dome and in that release outlined the proposed terms of the transaction.  

Upon the closing of the transaction Dome will be a wholly owned subsidiary of Metalline.  After the completion of the transaction the parties intend for Metalline's common stock issued in the transaction to be listed on both the NYSE Amex and the TSX Venture Exchange.  To effect the transaction Metalline will acquire all of the outstanding shares of Dome by the issuance of 47,724,561 shares of common stock.  The number of Metalline common shares to be received by Dome's shareholders will depend on the number of Dome shares outstanding at the closing of the transaction.  

The transaction is contingent on Metalline's receipt of $2,990,000 in funding by December 23, 2009.  Further, the transaction is contingent on Dome receiving funding of $13,010,000 by January 10, 2010, which will be held in escrow pending the closing of the transaction.  The agreement between the parties contains standard deal protection provisions and in the agreement both Dome and Metalline made standard representations, warranties and covenants to each other. The completion of the transaction is subject to a number of conditions including both parties receipt of funding, both parties seeking and obtaining shareholder approval, and other regulatory approvals.   The parties expect to complete the transaction during the second calendar quarter of 2010.  

About Metalline Mining Company

Metalline Mining Company is an exploration stage enterprise engaged in the business of mining. The Company currently owns mining concessions in the municipality of Sierra Mojada, Coahuila, Mexico.  The Company conducts its operations in Mexico through its wholly owned Mexican subsidiaries, Minera Metalin S.A. de C.V. and Contratistas de Sierra Mojada S.A. de C.V.  To obtain more information on Metalline Mining Company, visit the Company's web site ( www.metallinemining.com).

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