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Moneta Porcupine Mines Announces $5 Million Bought Deal Financing -


TIMMINS, ONTARIO--(Marketwire - Feb. 23, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
(figures in Canadian dollars)

Moneta Porcupine Mines Inc.
(TSX:ME)(OTC:MPUCF)(XETRA:MOP) (the "Company") announces
that it has entered into an agreement with a syndicate of
underwriters (the "Underwriters"), led by
Stonecap Securities Inc., whereby the Underwriters have
agreed to purchase, on a bought deal basis,
14,300,000 common shares (the "Common Shares") from
treasury of the Company at a purchase price of
$0.35 per Common Share (the "Issue Price") for gross
proceeds of $5,005,000 (the "Offering").

The net proceeds of the Offering will be used for exploration
at the Company's
Golden Highway project, working capital and
general corporate purposes.

The Offering will be made by way of private placement to
accredited investors in all provinces of Canada.
The Offering is expected to close on or about March 20, 2012,
and is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals including
the approval of the Toronto Stock Exchange and the relevant
securities regulatory authorities. The Common Shares will
be subject to a four-month hold period.

About Moneta

Moneta holds a 100% interest in 5 core projects strategically
located along the Destor Porcupine Fault Zone in the world
class Timmins Camp with excellent infrastructure including
access roads, water, electricity, and mills.

The land position is one of the largest -
after three gold producers - including the highly prospective
Golden Highway Project which contains an Indicated resource
of 1.07 million ounces gold (NI 43-101) and an Inferred
resource of 2.07 million ounces gold (NI 43-101) and
covers 12 kilometers of a volcanic/sedimentary belt along the
Destor Porcupine Fault Zone,
similar to that which has hosted the bulk of
the 75 million ounces mined to date in the Timmins Camp.

This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will
not be registered under the United States Securities Act
of 1933, as amended, or any state securities laws and may
not be offered or sold within the United States or to
U.S. Persons unless an exemption from such registration
is available.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Moneta Porcupine Mines Inc (TSE:ME) CORPORATE PRESENTATION -
February 2012 -

http://www.monetaporcupine.com/i/pdf/MONETA_FEB_2012.pdf

http://www.monetaporcupine.com

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http://investorshub.advfn.com/boards/board.aspx?board_id=5495


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