Mineral Hill Industries Ltd. - Private Placement Closing

    Trading Symbols:
    TSX Venture Exchange: MHI
    Frankfurt Stock Exchange: N8Z/WKN: AODLHP

    VANCOUVER, Oct. 22 /CNW/ - Mineral Hill Industries Ltd. is pleased to
announce that further to its news release on October 1, 2008, it has closed
the private placement with a subscription of 2,001,363 units for total
proceeds amounting to $220,150. All of the shares, warrants and any shares
issued upon exercise of the warrants comprising the units are subject to a
hold period and may not be traded in British Columbia until February 23, 2009
except as permitted by the applicable Securities Acts and the Rules made
thereunder and the TSX Venture Exchange. There is no finder's fee payable in
connection with this private placement.

    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; Pamela Keck, Investor Relations Co-ordinator, Telephone (direct):
(604) 630-6792

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