Mantis to Undertake Diamond drilling at the Rottenstone Project this fall to locate extension of former high-grade deposit



    TORONTO, Aug. 21 /CNW/ - Mantis Mineral Corp. ("Mantis" - CNQ "MINE")
Mantis Mineral Corp. is extremely pleased to announce that a compilation of
both historical and current data pertaining to the Rottenstone project has
been completed and has delineated 12-high priority areas targeting magmatic
nickel-PGE, some of which may relate to the much anticipated larger extension
of the Rottenstone deposit.
    Dr. Larry Hulbert former geologist with the Geological Survey of Canada,
and highly knowledgeable on the geology of the Rottenstone Domain spearheaded
the compilation. The compilation included modeling of the data of the recently
completed VTEM survey which was flown over the entire 13,364 -hectare
property.
    An early fall diamond drill campaign expected to commence by the third
week of September is being planned to test the highest priority targets.
    The Rottenstone deposit was mined in the mid sixties by open pit method
producing approximately 40,000 tons of high-grade ore averaging 3.28% nickel,
1.83% copper and 9.64 g/t PGE. The extremely high Ni-Cu-PGE grades in
association with high contained sulphides (40% to 60%) hosted in a small
ultramafic body strongly indicate that the Rottenstone deposit is an extension
of a much larger ultramafic intrusive body hosting a much larger high-grade
Ni-Cu-PGE deposit at depth or in the area. Significantly, the feeder system to
this deposit and tapping a possibly larger system has not been located. The
goal of the current program is to identify the conductors that may be
associated with the Rottenstone deposit possibly being an extension of a much
larger ultramafic intrusive body.
    Commented Robin Ross, Chairman and CEO; "We are extremely encouraged by
the quality of the conductors. Our geological/geophysical team has prioritized
those conductors with a geophysical signature that exhibit the best fit with
the geological model that corresponds to a large ultramafic intrusive body and
feeder system at depth. This is just another example of one of the many
quality projects under Mantis' roof and one which will drive shareholder
value."

    Cautionary note:

    While the assays herein reported are of a historical nature and do not
conform to National Instrument 43-101 they are generally considered reliable
according to local industry standards.

    About Mantis Mineral Corp.

    Mantis Mineral Corp. is a dynamic new Canadian based resource company,
possessing a diversified portfolio of mineral properties across Canada,
including direct participation in three major area plays: Tamarack, Orphan and
Grass River. The company holds substantial land positions hosting gold,
nickel, copper and platinum group metals.

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

    %SEDAR: 00008151E




For further information:

For further information: Mr. Robin Ross, Chairman & CEO, (416) 362-1800,
pr@mantismineralcorp.com

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