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To: LoneClone who wrote (27668)	10/21/2008 9:31:45 PM
From: LoneClone	Read Replies (1) \| Respond to of 193231

Mercator Starts Commissioning of the Mineral Park Mill Tue Oct 21, 11:42 AM ca.news.finance.yahoo.com TRADING SYMBOL: TSX - ML VANCOUVER, Oct. 21 /CNW/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce that the commissioning process is well underway at its wholly owned Mineral Park Moly-Copper project. The following are major milestones that have been completed during the construction and commissioning process: - The mill operating crews were hired October 1st and are completing pre start up training; - The upgraded water and power systems are complete and are operational; - Crusher hopper, feeder, grizzly and feeder belt are complete; - Stacker and feeder belt installation complete; - Reclaim tunnel, feeders, and SAG feed conveyor complete; - SAG mill installation complete; - Number one Ball mill complete and number 2 complete this week; - Moly-Copper rougher float tanks complete; - Copper cleaner cells complete; - Moly cells complete; - Thickeners complete; - Tailings discharge line complete. "The final stages of the commissioning of the mill facility are expected to take 2-3 weeks in order to get Phase 1 up and running" said Mike Surratt, Mercator's President and CEO. Over 75 of the approximately 90 motors in the Moly/Copper concentrate building have been turned over and run. The engineering, suppliers and contractor companies for the large 3500 hp. and 7500 hp. motors, are on site and are commencing their start up procedures. As the major components are being tested, the final piping and electrical connections are being completed. "We have a very detailed startup procedure that is proceeding 24/7. Our construction team and mill operations personnel are working very closely, moving towards start-up" said Surratt. "As a result of our strong financial position over the last two years we have not only been able to get Phase 1 complete and starting, but we have completed approximately 40% of Phase 2 of the expansion project at Mineral Park", commented Surratt. "The remainder of Phase 2 construction will be paid for out of Phase 1 cash flow. By completing a number of the Phase 2 items during Phase 1, we have realized significant construction savings" said Surratt. Major items completed to date for Phase 2 of the expansion at Mineral Park include the following: - Installation of the Phase 2 SAG mill complete with recycle conveyors and discharge screen; - Phase 2 Ball mill bases completed; - Phase 2 Ball mills 60% paid for; - Phase 2 reclaim tunnel complete; - Phase 2 reclaim conveyors and steel on site; - Phase 2 copper cleaner circuit installed; - Phase 2 Moly circuit installed; - Phase 2 thickner tank complete. Mercator Minerals Ltd. Mercator is a copper producer that owns and operates the Mineral Park copper/molybdenum mine, with a corporate strategy focused on maximizing the production potential of the Mineral Park copper-molybdenum deposit and growing through mergers and acquisitions. Mercator is in an advanced stage of construction of the molybdenum-copper expansion at Mineral Park. At full capacity, the Mineral Park mine average annual production during the first 10 years is forecast to be approximately 56.4 million pounds of copper, 10.3 million pounds of molybdenum and 0.6 million ounces of silver. On Behalf of the Board of Directors MERCATOR MINERALS LTD. Per: "Michael L. Surratt" Michael L. Surratt, President This press release contains certain forward-looking statements, which include estimates, forecasts, and statements as to management's expectations with respect to, among other things, the size and quality of the Company's mineral reserves and mineral resources, future production, capital and mine production costs, demand and market outlook for commodities, and the financial results of the Company. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary. Factors that may cause actual results to vary include, but are not limited to, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials and equipment, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets. These risks are described in more detail in the Annual Information Form of the Company. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this report or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws. For a more complete discussion, please refer to the Company's audited financial statements and MD&A for the year ended December 31, 2007 on the SEDAR website at www.sedar.com. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. Contacts Marc LeBlanc VP Corporate Development and Corporate Secretary Tel: (604) 981-9661 or (604) 716-5582 Fax: (604) 960-9661 Email: mleblanc@mercatorminerals.com