MEK Proposes $5M Private Placement

METALS CREEK RESOURCES CORP. PROPOSES PRIVATE PLACEMENT FOR UP TO $5,000,000

Toronto, January 13, 2011: Metals Creek Resources Corp. (the “Company”, TSXV: “MEK”) is pleased to announce that it has entered into an agreement in connection with a private placement offering of up to 3,125,000 flow through shares (“FT Shares”) at a price of $0.32 per FT Share and up to 14,285,750 units (“Units”) at a price of $0.28 per Unit for aggregate gross proceeds of up to $5,000,010 (the “Offering”).  Each FT Share shall qualify as a “flow-through share” within the meaning of the Income Tax Act (Canada).  Each Unit shall be comprised of one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each whole Warrant shall entitle the holder thereof to acquire one common share of the Company at a price of $0.45 for a period of 24 months following the closing of the Offering.

Fraser Mackenzie Limited and Euro Pacific Canada Inc. (the “Agents”) have agreed to act as co-lead agents on a best efforts agency basis with respect to the Offering. The Agents have been granted an option to sell up to an additional $750,000 in the form of either FT Shares and/or Units at the respective issuance prices.

The proceeds from the sale of the FT Shares will be used for exploration for the Company’s properties and the proceeds from the sale of the Units will be used for general working capital purposes.

The Offering is scheduled to close on or about February 4, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

Any securities to be issued will be subject to a hold period of four months from the closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

Metals Creek Resources Corp.
Metals Creek Resources Corp. is incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the TSX Venture Exchange under the symbol “MEK”.  Metals Creek has an option to earn a 50% interest in the Ogden Gold property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a strike of 8 km strike length of the prolific Porcupine-Destor Fault (PDF) that stretches between Timmins Ontario and Val’Dor Quebec.  The Company is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario and Newfoundland and Labrador.  Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under the company’s profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For further information, please contact:

Alexander (Sandy) Stares, President and CEO Metals Creek Resources Corp telephone: (709)-256-6060 fax: (709)-256-6061 email: astares@metalscreek.com

Forward Looking Statement:
Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the Company's periodic filings with the Ontario Securities Commission. Specifically, completion of the private placement of up to $5,000,000 is subject to a number of conditions, including but not limited to TSX Venture Exchange acceptance.  There can be no assurance that the private placement will be completed as proposed or at all.  Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.