17:44 EST Monday, January 04, 2010

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2010) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) announces that, further to its Press Release dated December 23, 2009, it has closed the second tranche of a non-brokered financing of $327,000 of flow-through units and working capital units.

Tribute placed a further 1,391,666 flow-through units of the Company at a price of $0.12 per unit, for gross proceeds of $167,000. Each unit (a "FT Unit") consisted of one flow- through common share of the Company and one-half (1/2) non flow-through share purchase warrant (a "Warrant"). Each full Warrant entitles the holder to acquire an additional common share at $0.15 for a period of twenty-four (24) months from Closing.

Tribute also placed a further 1,600,000 working capital units of the Company at a price of $0.10 per unit, for gross proceeds of $160,000. Each working capital unit (a "WC Unit") consisted of one common share of the Company and one (1) share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder to acquire an additional common share at $0.11 for a period of twenty-four (24) months from Closing.

Securities issued pursuant to the above referenced private placements are legended and restricted from trading until at least April 30, 2010.

Insiders of the Company subscribed for 416,666 FT Units for $50,000 and 500,000 WC Units for $50,000. The insider private placements 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.

The Company plans to leave the working capital offering open and may place up to a further 800,000 WC Units for up to a further $80