Precious Metals and Mining Trust (TSX:MMP.UN) provides details regarding the 2011 annual redemption

Precious Metals and Mining Trust (TSX:MMP.UN) -

Sentry Investments. ("Sentry"), the manager of Precious Metals and Mining Trust (the "Trust"), announces that unitholders who redeemed their units of the Trust (the "Units") effective September 30, 2011, will receive the redemption amount determined in accordance with clause (ii) of the definition of Net Realized Proceeds Per Unit set out in the Trust's Amended and Restated Declaration of Trust, dated March 11, 2009 (the "Declaration of Trust"), as Sentry determined that it was not practicable to make the dispositions described in clause (i) of that definition. As a result, unitholders who tendered Units will receive the Redeeming Percentage of the Trust's Net Asset Value on the Redemption Date, less any applicable costs that Sentry believes would have resulted from the dispositions described in clause (i).

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 Units trade on the Toronto Stock Exchange under the symbol MMP.UN.

Sentry Investments

Sentry Investments is a Canadian asset management company with approximately $6.5 billion in assets under management on behalf of Canadian investors. We offer a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investment products. Sentry Investments was recognized as Canada's Best Equity Fund Family at the Lipper Fund Awards 2011 and was one of only five companies in 2011 to receive the prestigious Brendan Wood International TopGun Asset Management Team Award.

Any capitalized terms used but not defined herein are as defined in the Declaration of Trust.

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 method of paying the redemption amounts owed to unitholders of the Trust. 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.

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

Contacts: Precious Metals and Mining Trust Investor Relations (broker/investor inquiries and media inquiries) 1-888-730-4623 416-364-1197 (FAX)[e-mail]