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Mines Management (MGN) Completes Key Component for Final Phase of Montanore Project

Mines Management Inc., engaged in the business of acquiring, exploring and developing mineral properties containing precious and base metals in Montana, today announced that a Supplemental Draft Environmental Impact Statement (SDEIS) has been completed by the U.S. Forest Service for the Montanore Project.

The SDEIS is a significant component of the Mines Management’s long-standing process with the Montanore Project.

“Completion of the SDEIS is a major step forward in the final phase of the permitting process,” Glenn M. Dobbs, president and CEO of Mines Management stated in the press release. “It signals a move toward completion of the process we began in 2005, since which time we have developed extensive documentation demonstrating the benign nature of this underground mining project, and the protections to the environment provided in the plan of operations.”

The company designed the mine to exceed current standards and regulations to ensure the protection of wildlife while maintaining purity and viability of water in the region, and reduce other perceived risks to the environment. Dobbs also noted how the project will generate employment opportunities.

“Since 1993, the project has undergone additional exhaustive studies, and it is clear the community in the area of the project would like to see the mine built. If developed, the Montanore Project would provide an estimated 350 direct long-term jobs in a community with approximately 20 percent unemployment, resulting in significant economic growth and an increase in the tax base,” Dobbs stated. “With the completion of the SDEIS, we are optimistic that the permitting process is nearing a conclusion, after which the project can move forward.”

Contingent upon obtaining a full permit for the Montanore Project, the company said it intends to complete the rehabilitation and construction of its 14,000 ft. evaluation adit, as well as complete an underground drilling program.

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