Markland AGF Precious Metals Corp T.MPM

MPM closes $7,500,000 financing

[NewsFlash10]

Maple Minerals Corp (TSX-V:MPM) Last Close 3/15/2005 $1.38 Tuesday March 15 2005 - News Release Mr. Gino Falzone reports MAPLE MINERALS CORP. ANNOUNCES CLOSING OF $7,500,000 PRIVATE PLACEMENT Maple Minerals Corp. has closed its previously announced non-brokered private placement to raise gross proceeds of $7.5-million. A total of 10 million units were issued pursuant to the financing at a price of 75 cents per unit. Each unit consists of one common share and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one additional common share of Maple at any time from the date of issuance until Sept. 15, 2006 (warrant term), at an exercise price of $1 per share. If, following July 16, 2005, the closing price of the common shares exceeds $1.50 for 20 consecutive business days, then the warrant term shall be automatically reduced and the share purchase warrants will expire on the date, which is 30 days following the issuance of a news release announcing the reduced warrant term. The securities issued in connection with the financing will be subject to a hold period of four months and one day from the date of issuance. The financing remains subject to the final approval of the TSX Venture Exchange. Although the financing was non-brokered, Maple paid a cash commission and issued a total of 155,400 compensation options to certain dealers that arranged for the sale of units. Each compensation option entitles the holder to acquire one common share of Maple at a price of 75 cents until Sept. 15, 2006. If, following July 16, 2005, the closing price of the common shares exceeds $1.50 for 20 consecutive business days, then the option term shall be automatically reduced and the compensation options will expire on the date which is 30 days following the issuance of a news release announcing the reduced option term. In connection with the financing, a total of 2.4 million units were issued to insiders of Maple, together with their associated entities and related parties. In this regard, a total of 300,000 units were acquired by an associated entity of Gino Falzone (president of Maple); a total of 400,000 units were acquired by Sheldon Inwentash (a director and chairman of Maple); a total of 1,655,000 units were acquired by Brownstone Ventures (an insider of Maple as a result of its shareholdings); and a total of 45,000 units were acquired by Larry Goldberg (the chief financial officer of Maple). Proceeds of the sale of the units will be used for general corporate purposes.