Mineral Hill Announces Private Placement and Property Acquisition



    
    TSX Venture Exchange: MHI
    Frankfurt Stock Exchange: N8Z/WKN: AODLHP
    Pink Sheets:   MHIFF
    

    VANCOUVER, May 12 /CNW/ - Mineral Hill Industries Ltd. (the "Company" or
"MHI") wishes to announce that it will use its best efforts to sell by private
placement up to 20,000,000 Units at $0.025 per unit ("Unit"). Each Unit will
be comprised of one common share and one common share purchase warrant. Each
warrant is exercisable for one additional common share for a period of five
years from the date of closing at $0.05 per share. The Company may pay a
finder's fee in connection with the private placement. The Company will apply
the proceeds from the private placement to a lithium project in the Province
of Quebec and for working capital to fund ongoing operations and acquisitions.
    The Company is also pleased to announce that it has entered into a
Mineral Property Option Agreement (the "Agreement") with Fayz Yacoub and Ramy
Yacoub (the "Optionors") to acquire 100% interest in and to all mineral claims
(the "Chubb Property") in the northwestern part of Quebec in the Province of
Quebec, subject to applicable regulatory approval and in consideration of MHI
making cash payments in the amount of $80,000 and issuing 800,000 common
shares to the Optionors over three years from the effective date of the
regulatory approval of the Agreement.
    The Chubb Property is situated approximately 25 kilometres northwest in
the mining town of Val d'Or within the La Corne Township in the Province of
Quebec. The Chubb Property consists of 20 contiguous mineral claims covering
approximately 773.46 hectares. The Chubb lithium property comprises multiple
lithium target areas.
    Under standard conditions, lithium is the lightest metal and the least
dense solid element. Because of its specific heat capacity, the highest of all
solids, lithium is often used in heat transfer applications. It is an
important ingredient in cathode materials, because of its high electrochemical
potential, light weight and high current density used in rechargeable and
single-use batteries especially for cellphones and electric or hybrid
automobiles. Large quantities of lithium are also used in the manufacture of
organolithium reagents, especially n-butyllithium which has many uses in fine
chemical and polymer synthesis. All the foregoing is subject to regulatory
approval.

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.
    





For further information:

For further information: Dieter Peter, Chairman & CEO, Telephone: (604)
685-4170


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