MINERAL MOUNTAIN SECURES MAJOR INVESTOR AND INITIAL FUNDING OF $6 MILLION USD TO DRILL STANDBY MINE GOLD TARGET

VANCOUVER, BC, Aug. 2, 2022 /CNW/ - Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSXV:MMV.VN) (OTC-BB:MNRLF) (FRANKFURT:M8M) is pleased to announce that the Company has entered into an agreement with an international Private Investment Fund (the "Fund") to raise $6 Million USD (Cdn$7,740,000 at an exchange rate of 1.29) dedicated principally to drilling the Company's 100%-owned, fully permitted Standby Mine gold system located in the Rochford Gold District in the Black Hills of South Dakota, USA. In addition to the $6 million USD the Company intends on raising a further Cdn$200,000 for a total financing of Cdn$7,940,000 (the "Financing").  The Financing will consist of up to 113,428,571 units (the "Units") with each Unit comprised of one common share and one common share purchase warrant exercisable at a price of $0.15 for six months from the date of issuance (the "Warrants").  The Financing is expected to close in two tranches: a) the first tranche of Cdn$600,000 (the "First Trance") within a few weeks; and b) a second tranche for the remaining Cdn$7,340,000 (the "Second Tranche") upon the Company obtaining shareholder approval for the Second Tranche at a special meeting of shareholders expected to take place in late September or early October.   Shareholder approval will be required for the Second Tranche as a result of the Fund's investment becoming a control block as that term is defined within TSX Venture Exchange policies.