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Mines Management, Inc. Announces Common Stock Offering

Mines Management, Inc. (“Mines Management” or the “Company”) (NYSE Amex:MGN)(TSX:MGT) is pleased to announce that it intends to offer shares of its common stock pursuant to the Company’s shelf registration statement. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Mines Management intends to use the net proceeds from this offering for (i) the advancement of the permitting process for its Montanore Project and the commencement of the Company’s planned delineation drilling program, which will include advancement of the adit, establishment of drilling stations and commencement of exploratory drilling and (ii) for general corporate purposes, including possible acquisition and exploration of new mining properties.

Roth Capital Partners, LLC is acting as sole manager for the offering.

The offering is being made by way of a shelf registration statement, which was declared effective by the Securities and Exchange Commission (“SEC”) on October 27, 2009, a base shelf prospectus and a preliminary prospectus supplement, each of which has been filed with the SEC. Before you invest, you should read the preliminary prospectus supplement and the base shelf prospectus in that registration statement and other documents that Mines Management has filed or will file with the SEC for more complete information about Mines Management and the offering. Electronic copies of the preliminary prospectus supplement incorporating the base shelf prospectus relating to the offering may be obtained by either contacting the underwriter (as set forth below) or by accessing the SEC website, www.sec.gov.

Roth Capital Partners, LLC
Attn: Syndicate Department
24 Corporate Plaza
Newport Beach, CA 92660
Phone: 800-678-9147

Email: Rothecm@roth.com

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement, the prospectus or the Company’s shelf registration statement.

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