Metals Creek - Announces up to $3 million Private Placement

Metals Creek - Announces up to $3 million Private Placement  

Toronto, July 6, 2010. Metals Creek Resources Corp. (“Metals Creek” or the “Company”) is pleased to announce that it intends to offer up to 10,715,000 flow through common shares (“FT Shares”) at a price of $0.14 per FT Share and up to 12,500,000 units (“Units”) at a price of $0.12 per Unit for aggregate gross proceeds of up to $3,000,100 (the “Offering”). Each Unit will be comprised of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one common share of the Company at a price of $0.25 for a period of 24 months following closing, subject to accelerated exercise in the event the price of the Company’s shares closes at or above $0.30 for a period of 20 consecutive trading days.

The Offering will be non-brokered, however finders’ fee equal to a maximum of 7.0% of proceeds raised in the Offering will be paid by the Company and as additional consideration, finders will be issued options exercisable for that number of common shares of the Company equal to a maximum of 7% of the number of Flow-Through Shares and Units placed in the Offering. These options granted to finders will be exercisable at a price of $0.25 per share for a period of 24 months their date of issuance, and will be subject to the acceleration exercise provisions as described above.

The proceeds from the sale of the FT shares will be used for exploration of Metal Creek’s properties, while the proceeds from the sale of the Units will be used for general working capital purposes. The Offering is expected to close, subject to approval from the TSX Venture Exchange, on or about July 22, 2010, or such other date as the parties may agree to.

About 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 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 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 Statements:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Metals Creek undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.