Millstream Mines Limited: Undertakes Financing

TORONTO, February 22, 2016 - Millstream Mines Ltd. (the "Company" or "MLM") (MLM TSX-V & NJD1.F Frankfurt) announces a non brokered private placement for total proceeds of $620,000 comprised of both flow through and non-flow through issuances (the "Offering"). The terms of the Offering are as follows: a maximum issuance of 5,000,000 flow through common shares at a price of $0.10 per share along with an offering of 1,200,000 Units in the capital stock of Millstream at a price of $0.10 per Unit. Each unit shall be comprised of one (1) common voting share and a one half (1/2) common voting share purchase warrant. Each full purchase warrant will entitle the holder to purchase one (1) additional common voting share for a period of one (1) year at a price of $0.15. This Offering is subject to regulatory approval and will carry a requisite four month hold period from the date of closing. A commission or finders' fee of up to 10% will be paid by the Company in connection with the Offering.

The flow through proceeds from this financing will be used to establish additional resources at its Potter Mine Property through the precision drilling, from north to south, of the upper and yet to be defined limits of the 5 (five) known zones lying just north of past mine workings. These five (5) zones are designated as "B", "C", "D", "E" & "F" in the following graphic rendering located at the web link, (http://www.millstreammines.com/Geomodel,Potter.jpg). Other proceeds from the Offering will be used for general corporate purposes.


About Millstream Mines Ltd.:

Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The past producing Potter Mine Property is host to a presently known quantity of eleven (11) copper-zinc-cobalt-gold-silver "stacked" mineralized zones located in the highly prolific Abitibi Greenstone Belt and more specifically in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario. An initial resource estimate on the Potter, utilizing only seven (7) of the eleven total known mineralized zones, revealed an indicated resource of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1 ppm silver, and 127.5 ppb gold along with an inferred resource of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm silver, and 81.7 ppb gold. The Potter Resource was drawn up by Mr. David Gamble, P.Geo, Qualified Person for the Property. The Tamarack Gold Property is a former past producing, high-grade gold operator found in the Tobacco Root Mountains of Madison County, Montana. The Property is presently permitted to operate as a gold mine under the Small Mines Exclusion Act of Montana. It is accessible year round, 4 miles from the town of Sheridan, on a well maintained gravel road.

For a more thorough synopsis on the Company please visit the following link: http://www.millstreammines.com/Millstream_brochure.pdf.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.



For further information contact:

Millstream Mines Ltd.
Mr. Ernest Harrison, EM, Chairman and CEO
Phone: 705-474-7282

Mr. Robert Chase, CFA, President and CFO
Phone:416-368-9595