Company Web Site: www.minesmanagement.com

(NI) 43-101 reports from projects located in: USA (US)

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2005-10-14. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-12.

External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse

More External Links: Knobias

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-12

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Silver	Copper
Montanore	US	$320.90	0	71%	29%	231.16 M oz	780.51 K t
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-12
Metric / Metal						Silver	Copper
Metal Totals						231.16 M oz	780.51 K t
Metal Prices in US$ (from 2010-03-12)						$17.07 per oz	$3.36350 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)						$130.09	$190.81
Percentage of Total Metal Value						40.54%	59.46%
PP% | MI% | I%						0 | 72% | 28%	0 | 71% | 29%
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-12
Metal Value per Share (MVpSh)						US$320.90
Average Ore Value per Tonne						US$92.03
Metal Value Leverage (MVL)						113.45
Market Capitalization as % of Metal Value						0.9%
Recent Stock Price						C$2.88   (TSX/TSXV close on 2010-03-12.)   Conversion rate used: 1 Cnd$ = 0.982172 US$ )
Fully Diluted Share Count						30.33 M    ( Fully diluted share count is from Mines Management, Inc. Stock Price Information web page (viewed August 2009). )
PP% | MI% | I%						0 | 71% | 29%
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade						68 g/t
Market Capitalization     per oz of Silver In Ground						$0.37   US$  |   0.38   C$
Silver Eq Oz Estimate						570.22 M oz   ( 231.16 M oz are in ground)
Market Capitalization     per oz of Silver Equilavent						$0.15   US$  |   0.15   C$
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Property Location    -   See p. 120 of 151 of the NI 43-101 report dated May 2005.

The Montanore Project is located approximately twenty-three miles south of Libby, Montana and nine miles northeast of Noxon, Montana. The deeded property consists of two contiguous patented Lode claims known as HR 133 and HR 134 (AMENDED MINERAL SURVEY 11012). They lie in (unsurveyed and protracted) Sections 29 and 30, Township 27 North, Range 31 West, M.P.M., Sanders County, Montana.  

Permits    -   See p. 2 of 3 of the MD&A filing for June 30, 2009.

The Company continues to work on technical and regulatory issues with the agencies with regard to the EIS, project mitigation, public comments and other project issues. The Company continues to collect baseline data in anticipation of starting up the evaluation work in 2010. This includes data regarding fisheries, water quality, grizzly bear, and other important environmental receptors. Also, a site meeting occurred in June, 2009 with the Montana DEQ, U.S. Forest Service, Environmental Protection Agency, and Army Corps of Engineers to review the project as part of their selection of the Least Damaging Practical Alternative (LDPA) process.  

GoldMinerPulse Coverage Status:

• GoldMinerPulse coverage of Mines Management Inc. is complete pending a final internal review.

(NI) 43-101 Report:

Title: Technical Report on the Copper and Silver Resources, Montanore Project, Lincoln and Sanders Counties, Montana
Date: 2005-10-14 (151 pages)

Project Location: Montana, USA

Map View: Mines Management Inc.,Montanore project on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Silver	$93.57	166.27 M oz	69.940 g/t	73.94 M t
Copper	$135.57	554.56 K t	7,500.000 g/t	73.94 M t
Estimate notes: See Table 1.1 Montanore Silver and Copper Resource Summary on p. 10 of 151 in the NI 43-101 dated October 2005. Cutoff 1 oz Ag/t

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Silver	$36.52	64.90 M oz	63.430 g/t	31.82 M t
Copper	$55.24	225.95 K t	7,100.000 g/t	31.82 M t
Estimate notes: See notes for Measured + Indicated.