Mines Management Inc.

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Mines Management Inc is a publicly held Idaho corporation incorporated on February 20, 1947. The Company is engaged in the business of acquiring, exploring, and if exploration is successful, developing mineral properties, mainly those containing silver and associated base and precious metals. Its main mineral property interest, the Montanore Project, is held by its wholly owned subsidiaries, Newhi, Inc. and Montanore Minerals Corp. The Montanore Project is located in northwestern Montana, and from 1988 to 2002 was owned by Noranda Minerals Corporation. In May 2006, the Company acquired two Noranda subsidiaries that held title to the property providing access to the 14,000 foot Libby adit and related permits. It also owns certain patented and unpatented mining claims on zinc proprieties in northern Washington State referred to as the Iroquois and Advance properties. The Company's activities in the United States are subject to various federal, state and local laws & regulations governing exploration, labor standards, occupational health & mine safety, control of toxic substances and other matters involving environmental protection and taxation.

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