Mines Management, Inc.

Mines Management, Inc. is engaged in the business of acquiring and exploring, and if exploration is successful, developing mineral properties containing precious and base metals. The Company’s primary focus is on the advancement of the Montanore silver-copper project located in northwestern Montana. The Montanore is an advanced stage exploration project, which contains a Canadian NI43-101 compliant resource of approximately 81.5 million tons of material with average grades of 2.04 ounces silver per ton and 0.75% copper, in the measured and indicated category, plus an inferred resource of 35.1 million tons with average grades of 1.85 ounces silver per ton and 0.71% copper.