Mineral Mountain Resources Ltd. Closes the Final Tranche of A Non-Brokered Private Placement Announced on October 30, 2012 Including the Over-Allotment Announced on November 7, 2012

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2012) - Mineral Mountain Resources Ltd. (TSX VENTURE:MMV)(OTCQX:MNRLF) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") is pleased to announce that subject to acceptance for filing of the final documentation by the TSX Venture Exchange ("TSX-V"), it has closed the final tranche of its Non-Brokered Private Placement ("private placement") announced on October 30, 2012 for gross proceeds of C$1,669,492 from the sale of 6,183,300 Units at a price of $0.27 per Unit. The Company has also closed the Over-allotment announced on November 7, 2012 for gross proceeds of C$877,500 from the sale of 3,250,000 Units. Including the gross proceeds raised in this final tranche and the over-allotment, the Company was successful in raising the full amount of C$4,387,500 from the sale of 16,250,000 Units.

Each Unit shall consist of one common share of the Company and one common share purchase Warrant. Each whole Warrant shall be exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of C$0.35 per share in the first year and C$0.45 per share in the second year.

The funds raised from the issuance of the Units will be used for general working capital and for further development of the company's properties.

In connection with the private placement, the Company has paid finder's fees consisting of a cash commission representing 8% of the gross proceeds raised in the private placement, or that number of Units equal to 8% of the securities sold under the private placement. In addition, the company has paid a finders warrant ("Finders Warrant") equal to 8% of the total number of Units placed, where each whole Finders Warrant will have the same terms as a whole Warrant.

The securities issued in the private placement are subject to a four month plus one day hold period in accordance with applicable Canadian securities laws, the holding period expiring on March 22, 2013.

The Company is a British Columbia-based company primarily engaged in the acquisition of mineral resource properties in Canada and USA and the exploration of such properties for minerals. Minerals of interest to the company include precious metals including gold and silver and base metals including zinc, lead and copper.

On Behalf of the Board of Directors of

MINERAL MOUNTAIN RESOURCES LTD.

Nelson W. Baker, President and CEO

Reader Advisory

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", " plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com.