2007

Mantle Resources Announces Non-Brokered Private Placement

Print

Vancouver, British Columbia, Canada � Thursday, March 15, 2007 � Mantle Resources Inc. (TSX Venture Exchange: MTS; Frankfurt : A0F7E1) is pleased to announce a private placement of up to 3,500,000 units at a price of $1.15 per unit for gross proceeds of up to $4,025,000.� Each unit will consist of one common share plus one half of one common share purchase warrant.� Each whole warrant will entitle the holder to purchase one additional common share at a price of $1.75 for a period of two years from closing.� A finder�s fee of 6% will be paid on a portion of the private placement.� The private placement is subject to TSX Venture Exchange approval.

Lundin Mining Corp. (TSX: LUN) will be purchasing 1,700,000 units pursuant to the private placement.� Added to its current position, this would result in Lundin Mining holding just under a 10 per-cent equity position in Mantle Resources.�

�We are very pleased that Lund in Mining, one of the world�s premier mining companies, continues to show this significant level of interest in our Company�, stated Peeyush Va rshney, president of Mantle Resources.

The proceeds are planned to be used primarily for further exploration of the Akie sedex zinc property.� A portion of the proceeds will also be used for working capital and may also be used to explore the balance of the Company�s portfolio of properties � all located in the Omineca Mining Division within the highly prospective Gunsteel shale formation in the regionally extensive, world-class Kechika trough sedex zinc basin of northern British Columbia .

Lundin Mining Corp., a Canadian mining and exploration company with a primary focus in Europe , is listed on the Toronto Stock Exchange (�LUN�), the Stockholm Stock Exchange (�LUMI�)and the American Stock Exchange(�LMC�).� The company owns and operates four mines in Sweden , Portugal and Ireland and, this year, a fifth mine is planned to start production in Portugal .� Lundin Mining Corp�s Head Office is in Vancouver , Canada .

On behalf of the Board of Directors

MANTLE RESOURCES INC.

�Peeyush K. Varshney�

Peeyush K. Varshney

President and Director

�

�

�

�