MTN

Martina Minerals (TSX VENTURE:MTN) In response to queries from a number of
shareholders regarding the issue of Executive Order EO79 in the Philippines, by
President Benigno S Aquino III on 12 July related to the reform of the mining
sector the Board of Martina welcomes the initiative and believes that it will
have a beneficial effect on our business interests in the Philippines. 


The Executive Order lays the foundation for the policy framework which will
guide stakeholders and the Philippines Government in the implementation of
mining laws, rules and regulations for responsible, sustainable and equitable
mining. It is a result of consultation from various parties involved in the
mining industry including environmental groups, church groups, Philippines
Government agencies, mining and mining services companies. 


Key features addressed Executive Order 79:



--  The Government shall rationalise the existing revenue sharing schemes.
    Existing contracts such as the one held by Martina's 40% owned
    associate, Comval Tribal Resources Corporation's Operating Agreement
    shall continue to be valid and binding. 
--  The granting of new mineral agreements had been suspended until the
    fiscal sharing arrangements between the Government and the Contractor
    are rationalised and legislated. It is important to note that the
    Government has clarified however that this moratorium does not preclude
    the negotiation of new Exploration Permits for future mining projects,
    such as the areas covered by the San Miguel tribal lands. 
--  In fact, Exploration Permits may be granted following the release of the
    Implementing Rules and Regulations (IRR) expected within 60 days of the
    Executive Order. The Executive Order aims to align national interests
    with local governments' interests. 
--  Measures will be introduced to improve the regulation and control of
    small scale mining activities for metallic minerals and will be
    restricted to gold, silver and chromite mining only. 
--  The Government shall ensure strict enforcement of the environmental
    standards in mining. 
--  There will be improved transparency of the mining industry. 



Implementing rules and regulations will be issued by the Philippines Government
in the following weeks which will provide further direction. 


Commenting on the developments Willie McLucas, President and CEO said, "As a key
part of its good corporate citizen policy, the fact that all of the property
interests that Martina either owns, or is the process of acquiring with Blue
Creek Mining, either involve the local tribal communities as partners, or local
Filipino families. I welcome the clarity that this Order brings to the system." 


The TSX Venture Exchange has in no way passed upon the merits of the proposed
transaction. 


ON BEHALF OF THE BOARD

Willie McLucas, President and CEO, Martina Minerals Corp.

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