14:50 EDT Thursday, September 24, 2009

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2009) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) wishes to announce that it has entered into agreements to settle an aggregate of $424,076.28 of debt in consideration for the issuance of securities of the Company. The debt settlements will greatly reduce the Company's liabilities and better position the Company to move forward with its McFaulds Lake property.

The Company has negotiated a settlement with two arms-length creditors to settle $159,200 worth of debt in consideration for the issuance of Units of the Company priced at $0.08 per Unit. Each Unit is comprised of one (1) common share and one-half (1/2) of a common share purchase warrant with each full warrant exercisable to purchase a further common share $0.15 for one year. An aggregate of 1,990,000 Units will be issued. The Company has also negotiated a settlement of insiders' debts relating to management fees, geological fees, consulting fees, accounting fees, legal fees and directors fees for an aggregate of $195,927.68 in consideration for the issuance of 2,449,096 common shares priced at $0.08 per share. The Company has also negotiated a settlement of employee and consulting debts aggregating $68,948.60 in consideration for the issuance of 861,857 common shares priced at $0.08 per share. The debt settlements are subject to the approval of the TSX Venture Exchange.

The insider debt settlements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI61-101") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to insiders does not exceed 25% of its market capitalization.