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| May 19, 2010 Mineral Hill and Ascot Mining Consider Transaction | |
| Vancouver, BC, Canada - May 18th, 2010 - Mineral Hill Industries Ltd. (the "Company" or "MHI") announces that the Company and Ascot Mining plc ("Ascot") have agreed to give each other access to information on their respective properties and affairs and to engage in discussions for a limited period of time in order to determine whether there is a mutually acceptable basis for pursuing a business transaction. Ascot is a UK company listed on the London PLUS market and the Frankfurt Xetra Exchange: with two gold projects in Costa Rica of which one is presently in limited production of gold an the other is scheduled for production in the latter part of 2010. About Mineral Hill Industries Ltd. Mineral Hill Industries Ltd. is a Canadian based mineral exploration and development company trading on the TSX Venture Exchange (MHI), the Frankfurt Exchange (N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF). Mineral Hill has accumulated a diversified portfolio of quality lithium and precious metal properties in Canada and the USA. The Company's primary focus is on developing its three 100%- owned hard-rock lithium carbonate exploration projects in Quebec, Canada, its brine lithium property in Nevada, USA, as well as its Praxis Goldfields Project in Northern BC. Mineral Hill recently completed and filed a NI 43-101 Technical Report on three prospects located near Val d'Or, Quebec which confirmed elevated Li2O concentrations. Following completion of the NI 43-101 Technical Report, Mineral Hill is evaluating the next stage of development for its Quebec lithium prospects in 2010 which will include drilling and expanded exploration. MHI intends to continue developing and completing the NI 43/101 report on its 100% owned Praxis Goldfields Property located in British Columbia. For more information on Mineral Hill Industries Ltd. and its projects visit the Company's website at www.mineralhill.com or contact: John Punzo President Mineral Hill Industries Ltd. Telephone: (604) 685-4170 Michael Johal Mineral Hill Industries Ltd. Tel: 604-630-6792 mjohal@3xgmm.com Investor Relations Senergy Communications Shiro Rae Tel: 778-331-2031 ir@mineralhill.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. | |
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