Mercator Minerals Files Form 40-F Registration Statement With SEC

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/08/11 -- Mercator Minerals Ltd. (TSX: ML) ('Mercator' or the 'Company') reports that it has filed a registration statement on Form 40-F for the purpose of registering its common shares under Section 12 of the United States Securities Exchange Act of 1934, as amended (the 'U.S. Exchange Act'). The registration statement is anticipated to become effective 60 days after the filing date, or earlier if accelerated by the United States Securities and Exchange Commission ('SEC'). Upon the registration statement becoming effective, broker-dealers in the United States will be able to effect transactions in common shares of Mercator in the United States. In the meantime, Mercator's common shares continue to trade in Canada on the TSX through Canadian broker-dealers.

In June 2011, Mercator received notification of an order instituting administrative proceedings from the SEC. Mercator understands that this order was issued as a result of a registration statement filed by previous management in 1998 by the Company under its prior name, Silver Eagle Resources Ltd. The order alleged that Silver Eagle Resources Ltd. (now Mercator) had not filed periodic reports with the SEC sufficient to maintain its registration in the United States. Following discussions with the SEC and in order to remedy the situation, Mercator entered into a consent order with the SEC pursuant to which Mercator agreed to the revocation of the registration of its common shares pursuant to Section 12 of the U.S. Exchange Act on the basis that the Company would immediately file a registration statement on Form 40-F to re-register its common shares under Section 12 of the U.S. Exchange Act.

About Mercator Minerals Ltd.

Mercator Minerals Ltd., a TSX listed Canadian mining company with one of the fastest growing base metal profiles in its peer group, is a leading copper, molybdenum and silver producer with a diversified portfolio of high quality operations and projects in the USA and Mexico. Mercator provides investors exposure to current copper, molybdenum and silver production from the large tonnage long life Mineral Park Mine in Arizona, as well as mid-term exposure to copper at the El Pilar deposit in northern Mexico and longer term exposure of molybdenum and copper through the development of the El Creston deposit in northern Mexico.

On Behalf of the Board of Directors

MERCATOR MINERALS LTD.

D. Bruce Mcleod, P.Eng., President and CEO

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company may not be able to accelerate the effectiveness of the Form 40-F anticipated in this news release as a result of numerous factors, some of which may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Contacts:

Mercator Minerals Ltd.

Bruce McLeod

President & CEO

778.330.1290
bmcleod@mercatorminerals.com


Mercator Minerals Ltd.

David Jan

Head of Investor Relations & Communications

778.330.1295
djan@mercatorminerals.com
www.mercatorminerals.com