MTB MTB Metals Corp

Mountain Boy Minerals Ltd. (the "Company") (TSX VENTURE: MTB) is pleased to announce it has received TSX Venture Exchange approval for and closed a private placement to raise $2,271,256 (previously announced in the Company's news releases dated November 30, 2010 and December 7, 2010). The private placement closed in two tranches. Tranche 1 consisting of 3,064,516 flow-through units, at a price of $0.155 per flow-through unit to raise total proceeds of $475,000, Tranche 2 consisting of 11,588,750 flow-through units, at a price of $0.155 per flow-through unit to raise total proceeds of $1,796,256.

All of the shares and warrants, and any shares issued upon the exercise of the warrants comprising the units issued, are subject to a hold period and may not be traded in Canada until April 21, 2011 (Tranche 1) and April 25, 2011 (Tranche 2), except as permitted by applicable Canadian securities laws.

Finders' fees of $158,988 and were paid and 1,025,728 warrants were issued in connection with the private placement.

ON BEHALF OF THE BOARD

Ed Kruchkowski, Director

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

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

Contacts: Mountain Boy Minerals Ltd. Investor Relations 604-681-0710 Mountain Boy Minerals Ltd. Ed Kruchkowski 250-636-9232 250-636-2446 (FAX) www.mountainboyminerals.ca