Replies to post #15 on Iron Mountain Survey

[Ed Monton]

[Tackler]

MTB Mountain Boy closes two financings, extinguishes debt

2003-12-17 06:53 MT - News Release

Mr. Randy Kasum reports

PRIVATE PLACEMENT CLOSING

Mountain Boy Minerals has closed its private placement announced in Stockwatch on Nov. 25, 2003, in the amount of $49,992, by offering flow-through units at 24 cents per unit, for a total of 208,500 units; and $150,260, by offering 834,778 non-flow-through units at 18 cents per unit. The shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period expiring on April 17, 2004.

Shares for debt closing

The company has now closed its recently announced shares for debt in consideration for which the company issued 1,465,410 shares. The shares are subject to a hold period and may not be traded in British Columbia until April 17, 2004, except as permitted by the Securities Act (British Columbia) and the rules made thereunder, and the TSX Venture Exchange.

Frank Kamermanns of Stewart, B.C. reports that in connection with the issuance of 377,250 shares to Mr. Kamermanns by Mountain Boy Minerals at a deemed price of 11 cents per share, that Mr. Kamermanns is now the beneficial owner of 1,527,006 shares of the company and incentive options for the purchase of up to 314,000 common shares at prices between 10 cents and 14 cents per share, exercisable up to April 19, 2005, to Nov. 13, 2008. The 1,527,006 shares and 314,000 options, if exercised, would represent 15.24 per cent of the issued shares of the company on a partially diluted basis. The shares were acquired by Mr. Kamermanns for investment purposes. Mr. Kamermanns owned 1,149,756 shares of the company prior to this transaction. Mr. Kamermanns does not have any present intention to acquire ownership of or control over additional securities of the company. A copy of the report filed pursuant to the above-captioned provisions of the applicable securities acts may be obtained by contacting Randy Kasum.