MTN

Martina Minerals (TSX VENTURE:MTN) the Board of Martina Minerals ("Martina") is
pleased to announce that it has signed a binding "Letter of Intent" with
BlueCreek Mining, a Filipino owned company, to acquire an initial 40% interest
in two groups of property known as Boston and San Miguel located in Eastern
Mindanao, Philippines.


The Boston property is to the east of Mt. Diwalwal, one of the largest gold
deposits in the Philippines, which is itself immediately to the east of
Martina's TRIMA 1 property. The San Miguel property is approximately 130
kilometres to the north of Boston. The properties are along the well-known and
highly mineralised East Mindano fault. 


The Boston exploration area is held in an Ancestral Domain Title of the Boston
Mandaya-Manobo Indigenous Peoples. The Boston properties comprise 19,151
hectares. The Indigenous Peoples will also receive 1 million common shares and
warrants of Martina and a cash payment of US$150,000.


The San Miguel property is also within an Ancestral Domain Title and represented
by the Upper San Miguel Manobo Sectoral Council of Elders and Leaders. The
Indigenous Peoples will receive a cash payment of US$50,000. The San Miguel
property comprises approximately 18,000 hectares.


Negotiations are on-going to acquire additional lands within the San Miguel
area, which are privately held.


Martina will issue to BlueCreek 3,000,000 shares of Martina and 3,000,000, 10
cent, five-year warrants and they will be reimbursed for sunk costs to date. As
a part of the transaction BlueCreek will retain a 30% ownership in each of the
properties and the local Indigenous Peoples will hold the balance of the
properties.


Martina can, at its option, acquire BlueCreek's 30% economic interest in the
properties based on the following events: Discovery of 500,000 ounces of gold or
its equivalent to NI 43-101 resource standard for 2,500,000 common shares;
discovery of 1,000,000 ounces of gold or its equivalent to NI 43-101 resource
standard for 5,000,000 common shares; and 1,000,000 common shares per additional
1,000,000 ounces or its equivalent to NI 43-101 resource standard.


In addition a bonus of 100,000 common shares are to be issued per million
ounces, or its equivalent moved in to the reserve category and a further 100,000
common shares per million ounces or its equivalent at completion of the Bankable
Feasibility Study for Boston and San Miguel.


The transaction is subject to due diligence and regulatory approval.

ON BEHALF OF THE BOARD

Willie McLucas, President and CEO

and 

Harvey McKenzie, Director and CFO

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