Mezzotin Minerals Announces Proposed Debt Settlement

TORONTO, April 11, 2018 (GLOBE NEWSWIRE) -- Mezzotin Minerals Inc. (“Mezzotin” or the “Company”) (NEX:MEZ.H) announced today that, subject to regulatory approval, it has agreed to issue 8,014,969 common shares at a deemed price of $0.05 per share to Hong Kong-based Max Mind Investments Limited (“Max Mind”), an arm’s length private investment company, to settle indebtedness owing to Max Mind. Max Mind, through a Zimbabwean subsidiary, holds the rights to explore and, if warranted, mine the Company’s Sabi Star rare earth project located in Eastern Zimbabwe. The amount of indebtedness to be settled totals $400,748 (US$314,831.07) and consists of advances made to the Company by Max Mind pursuant to a December 2015 loan agreement between the parties, plus accrued and unpaid interest thereon. Upon completion of the debt settlement, Max Mind would own approximately 14.1% of the outstanding common shares of the Company. All shares issued under the debt settlement transaction will be subject to a 4-month hold period.

About Mezzotin Minerals Inc.

Mezzotin Minerals Inc. is a junior exploration company listed on the TSX Venture Exchange in Canada. The Company is engaged in the exploration of mineral properties in Zimbabwe and holds exploration permits and mining claims known as the Sabi Star project covering approximately 2,348 hectares which has been optioned to Max Mind Investments (Zimbabwe) (Private) Limited.  The project is located in Eastern Zimbabwe approximately 150 kilometres from Harare, the capital of Zimbabwe, and approximately 250 kilometres from the border of South Africa.  The project is located on the Odzi Gold Belt, a known mineralization belt having historically produced gold, copper, tin, tantalum, niobium and diamonds. 

For additional information please contact:

Lawrence Schreiner
Chief Financial Officer
Mezzotin Minerals Inc.
Tel. 416-496-3077
lschreiner@manbancorp.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.