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: 




----------------------------------------------------------------------------
                                   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  
----------------------------------------------------------------------------



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]