Copper equivalent production of 80.3 million pounds in 2011
Year over year copper equivalent growth of 12% to 25% expected in 2012


Vancouver, British Columbia -- January 16, 2012 - Mercator Minerals Ltd. (TSX:ML) ("Mercator" or the "Company") is pleased to announce its production results for the three months and year ended December 31, 2011, along with 2012 guidance for production, capital expenditures and average cash costs from its wholly-owned Mineral Park Mine in Arizona. With the successful completion of the Phase II mill expansion and improving operating efficiencies planned for 2012, the Company expects to produce 90 to 100 million copper equivalent(3) pounds in 2012.

Fourth Quarter 2011 Highlights
  • Record production levels of:
    • Total copper production of 11.3 million pounds
    • Molybdenum production of 2.3 million pounds
    • Silver production of 204,000 ounces
  • Record recovery of copper of 80.1%
  • Record tons milled of 4.0 million tons
  • Record tons mined of 6.7 million tons
  • Completed a consecutive 90-day performance test of more than 45,000 tons per day throughput
2011 and Q4-2011 Production

With the successful completion of the Phase II mill expansion in the third quarter of 2011, Mineral Park Mine achieved record copper and molybdenum production for both the fourth quarter and year 2011. Copper equivalent(1) production for 2011 was a record 80.3 million pounds; comprised of 42.4 million pounds of copper in concentrates and cathode, 7.0 million pounds of molybdenum in concentrates and 721,000 ounces of silver. Production for the fourth quarter totalled 23.6 million copper equivalent(1) pounds, comprised of 11.3 million pounds of copper in concentrates and cathode, 2.3 million pounds of molybdenum in concentrates and 204