Open letter to Mantis Mineral Corp. Shareholders

    TORONTO, March 3 /CNW/ - Mantis Mineral Corp (CNQ - MINE)

    Dear Fellow Shareholders,

    As a follow-up to my November 15, 2007 'Letter to Shareholders', I am
detailing our upcoming plans.
    Mantis is currently involved in 7 exciting projects including 3
significant area plays, two of which have already demonstrated mineralization.
Again, our market capitalization appears to be undervalued relative to the
valuations achieved by other companies in similar area plays, which I am
personally attempting to rectify in a number of ways.
    First of all, it has become apparent that Mantis Mineral Corp.'s name
does not appear as a joint venture partner with Probe Mines on its Tamarack
Project on numerous website maps of companies involved in the James Bay
Lowlands area. This is being corrected as we are immediately notifying all
concerned of our joint venture option with Probe.
    Second, the CNQ has begun a series of broker seminars across the country
profiling Mantis. I am personally addressing the various groups involved
detailing the exciting properties, progress to date, and work programs planned
for 2008 for your Company. Investors will be hard pressed to find three such
significant area plays all under one 'roof' in any other junior Canadian
resource company.
    Third, we are in the process of upgrading our website with a dynamic new
look to better profile your Company. This is an ongoing work in process but as
we advance each project, it will be reflected on our website.
    I continue to receive numerous investor calls asking about work programs.
As I have indicated to all, Mantis is not shy when it comes to putting out
press releases to keep shareholders informed of our progress. That said, we
have aggressive plans this year, beginning with both the Tamarack joint
venture and Orphan Gold Mine projects. Compilation of recently acquired VTEM-b
survey data on Tamarack and a recently completed IP survey on Orphan are
currently underway with follow-up plans to include drilling of targets shortly
thereafter. A press release in the near future will outline upcoming drill
programs. A VTEM-b survey is scheduled for our Rottenstone Joint Venture
project and planned for our Grass River project as well. A more detailed press
release will be provided shortly on these exciting projects.
    With our funding last fall, we plan on moving ahead aggressively, with a
view to significantly increase shareholder value through development work
across our entire suite of projects.
    It is important to remember that mining is a risky business, but the
rewards associated with discovery are far greater than any other business we
know of. We cannot guarantee success but we continue to believe in the quality
of our projects and the expectation that we will add meaningful value for our

    Robin Ross
    Chairman and CEO

    The CNQ Exchange 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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