Precious Metals and Mining Trust (TSX: MMP.UN) Announces Results of its Warrants Offering: Total Gross Proceeds of $72,105,579

   Precious Metals and Mining Trust (the "Trust") (TSX: MMP.UN) is pleased to announce that pursuant to the exercise of warrants (the "Warrants") it has raised total gross proceeds of approximately $72.1 million, being the maximum permitted under the terms of the Trust's warrant offering  which expired on July 23, 2010 (the "Offering"). The Offering was significantly over-subscribed.

On March 16, 2010, the Trust announced that it would issue Warrants to subscribe for Trust units to its unitholders of record at the close of business (Toronto time) on March 30, 2010 (the "Record Date").

Unitholders received one Warrant for each Trust unit held on the Record Date.

One Warrant entitled the holder to purchase one Trust unit at a price of $7.42 per unit before the expiration date of July 23, 2010 at 4:00 p.m. (Toronto time).

Warrant Offering results

The maximum number of Trust units available for issue pursuant to the Offering was 9,717,733 units. The results of the Offering were:

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                                   Warrants
                                  Exercised
                                 pursuant to
                    Warrants        over-     New Trust units  Total gross
 Warrants Issued   Exercised     subscription      Issued        proceeds
----------------------------------------------------------------------------
    9,717,733      9,054,670       663,063       9,717,733     $72,105,579
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Use of proceeds

Subject to the Trust's investment restrictions, the net proceeds of this Offering will be invested by the Trust in securities in accordance with the investment objectives and the investment strategy of the Trust.

Precious Metals and Mining Trust

The Trust is a closed-end investment trust that aims to provide unitholders with long-term capital appreciation and monthly cash distributions. The Trust invests in an actively managed portfolio consisting primarily of equity securities of mining issuers listed on a North American stock exchange. The Trust units trade on the Toronto Stock Exchange under the symbol MMP.UN.

Distribution guidance

In a press release on June 22, 2010, Sentry Investments ("Sentry") announced that for the next 12 months, the indicative monthly distribution amount for the Trust will remain at $0.10 per unit. However if the make-up of the Trust's portfolio changes, distributions may differ.

Sentry Investments

Sentry Investments is a Canadian asset management company that offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships, closed-end trusts and other alternative investments, covering a variety of domestic and global mandates.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent they relate to Sentry and/or the Trust. The forward-looking statements are not historical facts but reflect Sentry's current expectations regarding future results or events including, but not limited to, the intended use of proceeds from the Offering. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry and/or the Trust believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry and/or the Trust undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of the Trust, please visit the Trust's profile at www.sedar.com.

Sentry Investments
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: [phone]
Fax: [phone]

Contacts: Sentry Investments Client Services (broker/investor inquiries and media inquiries) 1-800-730-4623 416-364-1197 (FAX) [e-mail] www.sentryselect.com