Mantis Mineral Corp. announces private placement

    TORONTO, July 2 /CNW/ - Mantis Mineral Corp. ("Mantis") (CNQ - MINE)
announces that it intends to complete a private placement financing of up to
2,500,000 units at a price of $0.20 per unit. Each unit will consist of one
common share and one-half of one share purchase warrant, each whole warrant
entitling the holder thereof to acquire one share at a price of $0.35 for a
period of one year. The private placement is subject to satisfying the
requirements of the CNQ.

    About Mantis Mineral Corp.

    Mantis Mineral Corp. is a dynamic 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,

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Mantis Mineral Corp.

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