Mantis Mineral Completes Sale of its Interest in Claim 266 in Chester Township

TORONTO, Sept. 12, 2011 /CNW/ - Mantis Mineral Corp. (CNSX: MYN) ("Mantis" or the "Company") announced today that it has completed the sale of its interest in Mining Lease No. 107767 in the Township of Chester, District of Sudbury ("Claim 266").

Mantis entered into an option agreement (the "Option Agreement") with Gold Bar Resources Inc. ("Gold Bar") on June 15, 2010 to acquire Gold Bar's 21.62% registered undivided interest in Claim 266. Pursuant to the terms of the Option Agreement, Mantis issued 500,000 common shares to Gold Bar upon execution of the Option Agreement and was required to pay $1,000,000 to Gold Bar in cash or the equivalent value in shares at a deemed price of $0.15 per share over the next three years.

On November 26, 2010, Mantis entered into a purchase agreement (the "Purchase Agreement") with Gold Bar and Trelawney Mining and Exploration Inc. ("Trelawney"), whereby Gold Bar and Mantis agreed to sell all of their interest in and to Claim 266 to Trelawney.

In consideration of Trelawney's purchase of Claim 266, Trelawney issued 125,000 common shares to Gold Bar and 375,000 common shares to Mantis.  Pursuant to the terms of the Purchase Agreement, Mantis agreed to issue to Gold Bar 6,666,667 common shares in the capital of Mantis, as consideration for its remaining obligations under the Option Agreement.

Pursuant to the terms of the Purchase Agreement, the shares issued by Trelawney to Gold Bar and Mantis and the shares issued by Mantis to Gold Bar were held in escrow pending certain closing conditions being completed. These closing conditions were completed on September 9, 2011 and all the shares held in escrow were released to Gold Bar and Mantis on this day.

About Mantis Mineral

Mantis Mineral Corp. is a Canadian based resource and exploration company traded publicly under the symbol MYN on the CNSX. Mantis is focused on creating shareholder value through the exploration and development of its suite of strategically located, high-impact Canadian exploration projects.

The CNSX has not reviewed and does not accept responsibility for the adequacy of this release.

SOURCE Mantis Mineral Corp.

For further information:

Mr. Robin Ross, Chairman & CEO
Phone: (416) 362-1800
Email: pr@mantismineralcorp.com
or visit our corporate website at www.mantismineralcorp.com

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Mantis Mineral Corp.

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