Mercator Minerals Provides Update on Combination with Intergeo

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 1, 2014) - Mercator Minerals Ltd. (TSX:ML) ("Mercator" or the "Company") announces, further to the Company's July 15, 2014 press release, that given that the Company and Intergeo MMC Ltd. ("Intergeo") have not agreed to extend the completion deadline in connection with the proposed business combination between Mercator and Intergeo announced on December 12, 2013 (the "Arrangement") beyond August 1, 2014, the arrangement agreement has been terminated in accordance with its terms. As such, the proposed business combination will no longer proceed.

As a result of the termination of the Arrangement, certain events of default have occurred and are continuing under the credit agreement entered into between the Company's indirect wholly owned subsidiary, Mineral Park Inc. ("MPI" or "Mineral Park") and its senior lenders (the "MPI Lenders"), and under the bridge loan agreement entered into between Mineral Park and Intergeo's controlling shareholder, Daselina Investments Ltd. The MPI Lenders have agreed to forebear from exercising their various rights and remedies under the credit agreement, until up to August 15, 2014.

About Mercator Minerals Ltd.

Mercator Minerals Ltd., a TSX listed base metals mining company, operates the wholly‐owned copper/molybdenum/silver Mineral Park Mine in Arizona, USA. Mercator also wholly‐owns two development projects in Sonora, Mexico: the copper heap leach El Pilar project and the molybdenum/copper El Creston project.

On Behalf of the Board of Directors

MERCATOR MINERALS LTD.

D. Bruce McLeod, P.Eng, President and CEO

Forward‐Looking Information

This news release contains certain forward‐looking information within the meaning of Canadian securities legislation and forward‐looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward‐looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of Mercator. When used in this document, the words "anticipates", "may", "can", "believes", "expects", "projects", "intends", "likely", "will", "to be" or the negative of these terms and any similar expressions and any other statements that are not historical facts, in each case as they relate to Mercator are intended to identify those assertions as forward‐looking information and statements. In making such statements, the Company believes that its expectations are based on reasonable assumptions. However, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of improved operations, current metal prices, positive cash flows, future plans, authorizations, approvals, applications and statements as to management's expectations with respect to, among other things, the receipt of any and all necessary regulatory approvals, third party consents, authorizations and the satisfaction of conditions precedent to the completion of the Arrangement may constitute forward‐looking statements. These forward-looking statements involve numerous risks and uncertainties and actual results may vary.