Precious Metals and Mining Trust (TSX:MMP.UN) Announces Treasury Offering

Precious Metals and Mining Trust (the "Trust") (TSX:MMP.UN) is pleased to
announce that a preliminary short form prospectus in connection with a treasury
offering (the "Offering") of units (the "Units") has been filed with, and the
receipt issued by, the securities commissions and regulatory authorities in each
of the provinces and territories of Canada. The Offering will be priced at not
less than the most recently calculated net asset value per Unit prior to the
date of the final short form prospectus plus the estimated fees and expenses of
the Offering.


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, with a current emphasis in the gold sector, listed on a North
American stock exchange.  


Agents  

The syndicate of agents, co-led by RBC Capital Markets and CIBC, includes BMO
Capital Markets, Canaccord Genuity Corp., National Bank Financial Inc., Scotia
Capital Inc., Dundee Securities Corporation, GMP Securities L.P., HSBC
Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc.,
Industrial Alliance Securities Inc., Mackie Research Capital Corporation,
Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington
West Capital Markets Inc. (the "Agents").


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 Select Capital Inc. ("Sentry"), the manager of the Trust, and/or the
Trust. The forward-looking statements are not historical facts but reflect
Sentry's current expectations regarding future results or events. 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 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. 


A preliminary short-form prospectus dated November 15, 2010 containing important
information relating to these securities has been filed with the securities
commissions or similar authorities in all of the provinces and territories of
Canada. The preliminary short-form prospectus is still subject to completion or
amendment. Copies of the preliminary short-form prospectus may be obtained from
the Agents or is available electronically at www.sedar.com. There will not be
any sale or any acceptance of an offer to buy the securities until a receipt for
the final prospectus has been issued.




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