Mercator Minerals Ships First Copper Concentrates at Its Mineral Park Mine

Mercator Minerals Ltd. ("Mercator") is pleased to announce that it has commenced shipping copper concentrates from its newly expanded Mineral Park Mine in Arizona, less than two years from completion of its December 29, 2006 Technical Report.

The commencement of concentrate shipments from the Mineral Park copper-molybdenum milling facility marks the completion of the construction/development phase of the project and the operations team will now focus on ramping up production to design levels. In accordance with the copper off take agreement that Mercator has with MRI Trading AG of Zug, Switzerland, the concentrates are being trucked into Mexico and delivered to the Port of Guyamas. Provisional payments are due four days after delivery of each 1,000 lot to the Port of Guyamas.

Mike Surratt, President & CEO comments, "With the successful start-up of the copper-molybdenum mill facility and the first shipment of copper concentrates, Mercator has completed the development of the first phase of its expanded Mineral Park Mine. We are now focused on maximizing the operational efficiency of the process plant." Surratt concludes, "We are very pleased with the way this major project has been developed, despite the many challenges that faced the industry during the last few months, in such a short period of time. An outstanding management team, supported by a strong group of contractors and sub-contractors, has brought this major construction project to a successful conclusion with the commencement of copper and molybdenum production."

Additionally, the Company reports that it has made the December 31 interest payment on the Secured Notes issued in 2007, on time and as required.

Mercator Minerals Ltd.

Mercator Minerals is a TSX listed mining company with only 74.8 million shares issued and an experienced management team that has brought one of the largest and most modern mining projects in North America to production in less than 2 years. Mercator management is dedicated to maximizing profits by making its Mineral Park Mine one of the lowest cost operations in the industry.

    On Behalf of the Board of Directors

    MERCATOR MINERALS LTD.

    Per: "Michael L. Surratt"

    Michael L. Surratt,
    President

This press release contains certain forward-looking statements, which include estimates, forecasts, and statements as to management's expectations with respect to, among other things, the size and quality of the Company's mineral reserves and mineral resources, future production, capital and mine production costs, demand and market outlook for commodities, and the financial results of the Company. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary.

Factors that may cause actual results to vary include, but are not limited to, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials and equipment, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets. These risks are described in more detail in the Annual Information Form of the Company. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this report or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

For a more complete discussion, please refer to the Company's audited financial statements and MD&A for the year ended December 31, 2007 on the SEDAR website at www.sedar.com.

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