TTM Resources Inc. Announces Flow-Through Financing with MineralFields Group

VANCOUVER, Apr 20, 2010 (Canada NewsWire via COMTEX News Network) --

TSX-V: TTQ

Frankfurt Stock Exchange Symbol: T2U

US Clearing Symbol: TTMRF

Issued and Outstanding: 46,329,989

VANCOUVER, April 20 /CNW/ - TTM Resources Inc. ("TTM" or the "Company") is pleased to announce a nonbrokered private placement with MineralFields Group (the "Private Placement") pursuant to which TTM proposes to issue 3,500,000 flow-through units at a price of $0.57 per unit for gross proceeds of $1,995,000. The Private Placement is subject to the approval of the TSX Venture Exchange.

Each unit under the Private Placement will consist of one flow-through common share and one transferable common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one additional non flow-through common share of the Company at an exercise price of $0.75 for the first 12 months following the closing of the Private Placement (the "Closing") and at an exercise price of $1.00 between 12 and 24 months following the Closing.

Limited Market Dealer Inc. ("LMDI") will received a cash finder's fee of $99,750, representing 5% of the gross proceeds raised in the Private Placement, as well as a non-transferable option (the "LMDI Option") to acquire 350,000 units of the Company (the "LMDI Units"), equivalent to 10% of the total units sold in the Private Placement. The LMDI Option is exercisable into LMDI Units for a period of 12 months following the Closing at an exercise price of $0.57 per LMDI Unit. Each LMDI Unit consists of one common share of the Company and one non-transferable share purchase warrant of the Company, each such warrant entitling the holder to purchase one common share of the Company at an exercise price of $0.75 for the first 12 months following the Closing and at an exercise price of $1.00 between 12 and 24 months following the Closing. In addition, LMDI will receive a cash due diligence fee of $59,850, plus GST, representing 3% of the gross proceeds from the Private Placement.

"We are very pleased to be entering into this relationship with MineralFields Group", said Crichy Clarke, the Company's President and CEO. "This is an important milestone in the growth of TTM Resources Inc. and we look forward to working with MineralFields Group as we continue to develop the Chu and our other mineral properties in British Columbia. We are comfortable with MineralFields Group as they are with us, and we both look forward to the release of our updated Preliminary Economic Assessment in mid-May and our Pre-Feasibility Study in September."

The proceeds of the Private Placement will be used primarily to fund geotechnical drilling on, and further exploration of, the Company's 100% owned Chu Molybdenum Project located 85 kilometres south of Vanderhoof, B.C.

About MineralFields, Pathway and First Canadian Securities (R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (R) (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities (R).

About TTM Resources Inc.

TTM Resources Inc. is a Vancouver, British Columbia based Molybdenum Development and Exploration Company focused on the resource development of the Chu Molybdenum Project and three other molybdenum properties in British Columbia, Canada.

TTM RESOURCES INC.

"Crichy Clarke"

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W.K. Crichy Clarke

President, CEO & Director

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION

This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: TTM Resources Inc.

visit the Company's web site at www.ttmresources.ca, or contact: W.K. Crichy Clarke or Tom Brady, TTM Resources Inc., Phone: (604) 685-1144, Toll Free: 1-877-685-1144, Email: ir@ttmresources.ca

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