Miocene Metals Announces Start of 2011 Exploration Program

TORONTO, June 20, 2011 /CNW/ --
TORONTO, June 20, 2011 /CNW/ - Miocene Metals Limited (the 'Corporation' or 'Miocene Metals'), today announced it has initiated its 2011 exploration program. The
program started in May with follow-up of anomalous gold values obtained
in stream sediment samples collected in 2010 on the Corporation's Mount
Barr, Custer Ridge and Sunshine properties all located near Hope and
Chilliwack in south-western British Columbia. Results for the new
samples collected this year will be available in the next several
weeks. Field crews have since moved to the Corporation's Rogers Creek
property to follow-up on open-ended gold soil anomalies on Target II
and molybdenum, copper, and tungsten soil anomalies associated with a
one kilometer diameter magnetic low on Target IV.

Drilling is expected to commence in mid-July on the Salal Property
testing targets along a 15 kilometre trend of molybdenite occurrences
(See June Corporate PowerPoint at www.miocenemetals.com for more details). Drilling is also planned on the MacKenzie Property
and at Rogers Creek later in the year, as part of a two Phase
$4,000,000 program which will be funded using flow-through funds raised
in 2010 and the net proceeds of the Corporation's initial public
offering ('IPO)', which is currently underway.  Objective of the 2011
program is to advance one or more target areas to resource drilling
stage in 2012.

Bruce Jago, President and CEO of Miocene Metals stated 'We are very
excited to have initiated our 2011 exploration program as we complete
our IPO.  Its not very often you have a chance to explore a whole belt
of intrusions, which has seen very little exploration, yet has
characteristics similar to some of the worlds great porphyry copper
belts.  Since acquiring our first property in 2008, we have advanced to
the stage where we now have surface mineralization on three of our
seven properties, which cover over 1,300 square kilometres of this
highly prospective belt.'

The Qualified Person responsible for the technical content of this press
release is Jose Sayo Garcia, P.Geo, Exploration Manager of Miocene
Metals.

About Miocene Metals Limited

Miocene Metals is focused on the exploration and development of seven
porphyry copper-gold-molybdenum properties in south-western British
Columbia that occur within the Tertiary-aged Cascade Magmatic Arc. The
Cascade Arc shares many geological characteristics with Tertiary-age
porphyry belts that stretch the length of Chile and Peru in South
America and hosts some of the world's largest porphyry
copper-gold-molybdenum deposits.

The Corporation has obtained TSX Venture Exchange (the 'TSXV')
conditional approval to the listing of its Common Shares. The TSXV
conditional approval is subject to the Corporation fulfilling all of
the listing requirements of the TSXV on or before August 6, 2011.

At present the Corporation is completing its Initial Public Offering.
Macquarie Private Wealth Inc. (the 'Agent') is acting as agent on a
commercially reasonable efforts basis for the Offering.

A copy of the Final Prospectus is available on Miocene's corporate
profile page, which may be accessed at www.sedar.com or may be acquired directly from Macquarie Private Wealth Inc. at 4100
Yonge Street, Suite 500, North York, ON, M2P 2B5, Attention: Bijan
Levine, Tel: (416) 512-3680, e-mail: bijan.levine@macquarie.com. Please direct all inquiries to Mr. Bijan Levine.

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

The securities being offered have not been, and will not be, registered
under the United States Securities Act of 1933, as amended, or any
state securities laws, and may not be offered or sold in the United
States unless pursuant to an exemption therefrom. This press release is
for information purposes only and does not constitute an offer to sell
or a solicitation of an offer to buy any securities of the Corporation
in any jurisdiction.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking information that involves
substantial known and unknown risks and uncertainties, most of which
are beyond the control of the Corporation, including, without
limitation, those listed under 'Risk Factors' and ' Forward-Looking
Statements' in the Corporation's Final Prospectus (collectively,
'forward-looking information'). Forward-looking information in this
news release includes, but is not limited to, information concerning
the proposed initial public offering, its completion and receipt of
necessary approvals, the Corporation's objectives, the Corporation's
expectations and estimates regarding the Corporation's intended
drilling program. The Corporation cautions investors about important
factors that could cause actual results to differ materially from those
projected in any forward-looking statements included in this news
release. Any statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future events
or performance are not historical facts and may be forward-looking and
may involve estimates, assumptions and uncertainties which could cause
actual results or outcomes to differ materially from those expressed in
such forward-looking statements. No assurance can be given that the
expectations set out in the Corporation's Final Prospectus or herein
will prove to be correct and accordingly, prospective investors should
not place undue reliance on these forward-looking statements. These
statements speak only as of the date of this press release and the
Corporation does not assume any obligation to update or revise them to
reflect new events or circumstances. The Corporation disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, save and except as may be required by applicable securities
laws.

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