VANCOUVER, BRITISH COLUMBIA, Jul 13 (MARKET WIRE) --  

MAYEN MINERALS LTD. (TSX VENTURE: MYM) (the "Company" or "Mayen"). 

Further to the Company's news release dated May 26, 2010, Mayen is 

pleased to announce that the Company has entered into a definitive 

agreement dated July 9, 2010 (the "Option Agreement") among Ivonne 

Boileve Romero ("Romero"), Navial Holdings S.A. de C.V. ("Navial 

Holdings"), Navial Mineria S.A. de C.V. ("Navial Mineria" and together 

with Romero and Navial Holdings, the "Optionors") and Minmay S.A. de C.V. 

("Minmay"), a wholly-owned indirect subsidiary of the Company, for the 

acquisition (the "Acquisition") of up to an undivided 56% interest in 6 

claim blocks comprising approximately 462,000 hectares located in the 

north-western section of Baja California, Mexico (the "Property"). The 

Optionors are an arm's length party to the Company, and therefore, 

shareholder approval of the Acquisition will not be required by the TSX 

Venture Exchange ("TSX-V"). 

 

    Pursuant to the terms of the Option Agreement, the Company, through 

Minmay may incorporate a subsidiary pursuant to the laws of Mexico for 

the purpose of holding Minmay's respective interest in the Property. The 

Acquisition may occur in up to three phases. In phase one, the Company, 

through Minmay, will acquire a 25% interest in the Property by paying 

US$1,000,000 and issuing 500,000 common shares in the capital of the 

Company (the "Shares"). In phase two, Minmay may acquire an additional 

25% interest in the Property (for an aggregate 50% interest) by spending 

not less than US$2,500,000 in expenditures on or before the 18 month 

anniversary of the date TSX-V approves the Acquisition (the "Effective 

Date"). In the final phase, Minmay may acquire a further 6% interest (for 

an aggregate 56% interest) in the Property by spending an additional 

US$1,500,000 in expenditures on or before the 30 month anniversary of the 

Effective Date. At any time after completion of phase one, the Company 

may elect not to acquire any further interest in the Property and 

immediately form a joint venture with the Optionors to further explore 

and develop the Property. 

 

    The Company has also entered into a Finder's Fee agreement dated July 9, 

2010 with Mining Advisory Services Inc. The Company will pay a Finders' 

fees for the Acquisition in Shares within the maximum amount permitted by 

the policies of the TSX-V. 

 

    Closing of the Acquisition is subject, amongst other things, to the 

completion of satisfactory due diligence on the Property by the Company, 

including review of a title opinion, the preparation of a National 

Instrument 43-101 compliant technical report for the Property, financing 

and the approval of the TSX-V. 

 

    About Mayen Minerals Ltd. 

 

    Mayen is a Canadian junior exploration company focused on the 

acquisition, exploration, and development of precious and base metal 

deposits in Mexico. The Company is listed on the TSX Venture Exchange 

under the symbol MYM. 

 

    ON BEHALF OF THE BOARD 

 

    Dennis A. van Dyke, President, Chief Executive Officer and Director 

 

    FORWARD LOOKING STATEMENTS: This press release contains forward-looking 

statements. Forward-looking statements are statements that are not 

historical facts and are generally, but not always, identified by the 

words "expects", "plans", "anticipates", "believes", "intends", 

"estimates", "projects", "potential" and similar expressions, or that 

events or conditions "will", "would", "may", "could" or "should" occur. 

Although the Company believes the expectations expressed in such 

forward-looking statements are based on reasonable assumptions, such 

statements are not guarantees of future performance and actual results 

may differ materially from those in forward looking statements. 

Forward-looking statements are based on the beliefs, estimates and 

opinions of the Company's management on the date such statements were 

made. The Company expressly disclaims any intention or obligation to 

update or revise any forward-looking statements whether as a result of 

new information, future events or otherwise. 

 

    Neither TSX Venture Exchange nor its Regulations Services Provider (as 

that term is defined in policies of the TSX Venture Exchange) accepts 

responsibility for the adequacy or accuracy of this release. 

 

Contacts: 

Mayen Minerals Ltd. 

Dennis A. van Dyke 

President and Chief Executive Officer 

(604) 689-4733 

www.mayenminerals.com 

 

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