News Release

Spokane, Washington – November 9, 2007 – Mines Management, Inc. (AMEX: MGN, TSX: MGT) is pleased to announce that it has acquired a net profits royalty (“NPR”) held by former investors in the Montanore Silver-Copper Project in northwestern Montana. The 5% NPR was purchased from Montana Reserves Company (“MRC”) of Spokane, Washington, for a payment of $500,000 in cash.

Mines Management’s President and CEO, Mr. Glenn Dobbs, stated, “We are pleased to conclude purchase of this royalty as yet another step in adding value to the Company and our shareholders. Purchase of this NPR reduces potential financial obligations, positively affecting the future value of the Montanore Project.”

The NPR previously entitled MRC to receive 5% of the profits generated from mining operations after all exploration, development and certain mining costs were recovered. In exchange, MRC has agreed to terminate their legal action, originally filed on August 11, 2005, against Mines Management, Noranda Minerals, and Normin Corporation, as previously reported in the Company’s filings with the Securities and Exchange Commission.

Mines Management is a U.S. based mineral exploration company focused on the acquisition, exploration, and advancement of silver dominant mineral projects. The company’s primary focus is currently on the advancement of the Montanore Silver-Copper Project located in the United States. The Montanore is currently undergoing an advanced stage evaluation program to support a bankable feasibility study and permitting process.

FORWARD LOOKING STATEMENTS

Some information contained in or incorporated by reference into this report may contain forward looking statements. These statements include comments regarding the process and timing of environmental assessment and permitting activities. The use of any of the words “development”, “anticipate”, “continues”, “estimate”, “expect”, “may”, “project”, “should”, “believe”, and similar expressions are intended to identify uncertainties. The Company believes the expectations reflected in those forward looking statements are reasonable. However, the Company cannot assure that the expectations will prove to be correct. Actual results could differ materially from those anticipated in these forward looking statements as a result of the factors set forth below and other factors set forth and incorporated by reference into this report: Worldwide economic and political events affecting the supply of and demand for silver and copper; volatility in the market price for silver and copper; uncertainties associated with developing new mines; technical, permitting, mining and processing problems; the availability, terms, conditions and timing of required governmental permits and approvals, and potential opposition to the majority of permits; uncertainty regarding future changes in applicable law or implementation of existing law and the factors discussed under “Risk Factors” in our Form 10-K, as amended, for the period ending December 31, 2006. statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially, including comments regarding the use of proceeds from the offering. Actual results may differ materially from those presented. Factors that could cause results to differ materially include fluctuations in silver and copper prices. Mines Management, Inc. assumes no obligation to update this information. There can be no assurance that future developments affecting Mines Management, Inc. will be those anticipated by management. Please refer to the discussion of risk factors in the Company's Form 10-K for the year ended December 31, 2006, as amended.

Contact:

     Douglas Dobbs
     Director, Corporate Development & Investor Relations

     Mines Management, Inc.
     Douglas Dobbs, 509/838-6050
     fax: 509/838-0486
     email: info@minesmanagement.com
     website: www.minesmanagement.com



Mines Management Purchases Underlying Royalty on Montanore Project November 09 , 2007
Press Release 07-12
Spokane, Washington – November 9, 2007 – Mines Management, Inc. (AMEX: MGN, TSX: MGT) is pleased to announce that it has acquired a net profits royalty (“NPR”) held by former investors in the Montanore Silver-Copper Project in northwestern Montana. The 5% NPR was purchased from Montana Reserves Company (“MRC”) of Spokane, Washington, for a payment of $500,000 in cash. Mines Management’s President and CEO, Mr. Glenn Dobbs, stated, “We are pleased to conclude purchase of this royalty as yet another step in adding value to the Company and our shareholders. Purchase of this NPR reduces potential financial obligations, positively affecting the future value of the Montanore Project.” The NPR previously entitled MRC to receive 5% of the profits generated from mining operations after all exploration, development and certain mining costs were recovered. In exchange, MRC has agreed to terminate their legal action, originally filed on August 11, 2005, against Mines Management, Noranda Minerals, and Normin Corporation, as previously reported in the Company’s filings with the Securities and Exchange Commission. Mines Management is a U.S. based mineral exploration company focused on the acquisition, exploration, and advancement of silver dominant mineral projects. The company’s primary focus is currently on the advancement of the Montanore Silver-Copper Project located in the United States. The Montanore is currently undergoing an advanced stage evaluation program to support a bankable feasibility study and permitting process. FORWARD LOOKING STATEMENTS Some information contained in or incorporated by reference into this report may contain forward looking statements. These statements include comments regarding the process and timing of environmental assessment and permitting activities. The use of any of the words “development”, “anticipate”, “continues”, “estimate”, “expect”, “may”, “project”, “should”, “believe”, and similar expressions are intended to identify uncertainties. The Company believes the expectations reflected in those forward looking statements are reasonable. However, the Company cannot assure that the expectations will prove to be correct. Actual results could differ materially from those anticipated in these forward looking statements as a result of the factors set forth below and other factors set forth and incorporated by reference into this report: Worldwide economic and political events affecting the supply of and demand for silver and copper; volatility in the market price for silver and copper; uncertainties associated with developing new mines; technical, permitting, mining and processing problems; the availability, terms, conditions and timing of required governmental permits and approvals, and potential opposition to the majority of permits; uncertainty regarding future changes in applicable law or implementation of existing law and the factors discussed under “Risk Factors” in our Form 10-K, as amended, for the period ending December 31, 2006. statements contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially, including comments regarding the use of proceeds from the offering. Actual results may differ materially from those presented. Factors that could cause results to differ materially include fluctuations in silver and copper prices. Mines Management, Inc. assumes no obligation to update this information. There can be no assurance that future developments affecting Mines Management, Inc. will be those anticipated by management. Please refer to the discussion of risk factors in the Company's Form 10-K for the year ended December 31, 2006, as amended. Contact: Douglas Dobbs Director, Corporate Development & Investor Relations Mines Management, Inc. Douglas Dobbs, 509/838-6050 fax: 509/838-0486 email: info@minesmanagement.com website: www.minesmanagement.com Source: Mines Management, Inc.