Mercator Minerals Ltd. announced that the company and its subsidiary, Mineral Park Inc. ('MPI'), has been advised by the syndicate of lenders (the 'Lenders') under the MPI credit facility ('Credit Facility') that an extension of the forbearance in exercising any remedies under the Credit Facility and waiver of certain other covenants until December 13, 2013 will be granted. The company expects to receive executed documents to that effect prior to the close of business on December 6, 2013.