Mercator Minerals Ltd MLKKF

Very good credentials.

[nagyonokos4]

Ron Vankoughnett appointed director and retirement of long term note to Gourley and Gourley KINGMAN, AZ, May 3, 2005 (Canada NewsWire via COMTEX) -- TRADING SYMBOL: TSXV - ML Mercator Minerals Ltd. (the "Company") is pleased to announce the appointment of Ron Vankoughnett to its Board of Directors and the resignation of Michael Sierakoski as a director of the Company. Mr. Vankoughnett is the President and CEO of a group of Canadian companies including Dolfo Transport a western Canadian based trucking business and M.R.L. a mining industry HD cooling system repair facility located in the British Columbia, and was the was the founding Chairman of the Mine Suppliers Contractors and Consultants Association (Elk Valley Branch), an arm of the Mining Association of British Columbia. Ron was previously the VP, Human Resources for Miramar Mining Corporation. Ron holds a Diploma Agr., from the University of Guelph, a B.A. in Sociology from Laurentian University, a J.D., Law from LaSalle University, and a Diploma Finance, from UCLA, John E Anderson Graduate School of Business. Michael L. Surratt, President and CEO, said: "We are delighted to have Ron join our team. He brings to Mercator significant managerial experience. Mike is stepping down as a director to make room for Ron to join the Board. We wish to thank Mike for his years of service as a director. The addition of Ron Vankoughnett increases the number of independent directors to four of six positions." Additionally, the Company announces that it has retired the outstanding debt owed to Gourley and Gourley, LLC of McLean Virginia. At the time of the acquisition of the Mineral Park Mine in June 2003, the Company arranged a Line of Credit with Gourley & Gourley pursuant to which they agreed to advance up to US$3,000,000. With the completion of the recently completed brokered financing subsequent to year end, the Company paid out the long term liability associated with the line of credit. Mr. Surratt stated that "The retirement of this debt instrument eliminates a significant portion of the Company's long term liabilities and all of the Company's bank loans, which significantly the Company's balance sheet." Mercator Mercator Minerals, Ltd. is a copper mining company that owns and operates the Mineral Park SX/EW Copper Mine in Arizona, with a corporate strategy focused on maximizing the production potential of the Mineral Park copper- molybdenum deposit. Mercator has already taken steps towards the production expansions discussed in the news releases cited above, having ordered additional mining equipment, commenced additional drilling, and initiated studies on the proposed subsequent production expansions. On Behalf of the Board of Directors MERCATOR MINERALS LTD. Per: "Michael L. Surratt" Michael L. Surratt, President and CEO The TSX Venture Exchange assumes no responsibility for the accuracy of this Release and neither approves nor disapproves of the same Mercator Minerals: HC37 Box 500 Kingman, AZ. 86401, Tel: [phone], Fax: [phone]