Mayen Minerals Announces Termination of Option and Joint Venture Agreement

   MAYEN MINERALS LTD. (TSX VENTURE: MYM) (the "Company") announces that the optionors have terminated the option and joint venture agreement (the "Ensenada Property Agreement") for the Ensenada Property as such transaction is more particularly described in the Company's news release of October 15, 2010. The Company is negotiating with the optionors to seek an extension to complete the Ensenada Property Agreement but there can be no assurance that the Company will be able to obtain such extension on favourable terms or at all.

About Mayen Minerals Ltd.

Mayen is a Canadian junior exploration company focused on the acquisition, exploration, and development of precious and base metal deposits in Mexico. The Company is listed on the TSX Venture Exchange under the symbol MYM.

ON BEHALF OF THE BOARD

Dennis A. van Dyke, President, Chief Executive Officer and Director

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Mayen Minerals Ltd. Dennis A. van Dyke President and Chief Executive Officer [phone] [phone] (FAX) www.mayenminerals.com