Canadian Venture Exchange Inc.

Symbol MLM

Millstream Mines Ltd.

4 King St. W. Suite 1320            Toronto, Ontario, M5H 1B6      Tel: (416) 368-9595

Fax: (416) 368-6827

40,132,043 SHARES ISSUED





Date: Dec. 17, 2004

Dec. 16, 2004 Close: $0.09




Toronto, Ontario -- Millstream Mines Ltd. (MLM - TSX-V) wishes to announce that it has submitted to the TSX Venture Exchange documentation in order to change the terms on warrants issued in its flow-through private placement of $420,000 at the end of 2003 (See MLM PR Jan. 21, 04). This financing involved 4,200,000 units with each unit being comprised of one flow-through voting share and one common share purchase warrant enabling the holder to purchase an additional common voting share for a period of one (1) year at a price of $0.15; the effective expiry date being Dec. 31, 2004. It is the intention of Millstream to extend the warrant for one additional year to Dec. 31, 2005 and to increase the exercise price to $0.20.

The above changes in the terms of the warrant are subject to TSX Venture Exchange Approval and the consent of all the warrant holders.

The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential.


Millstream, further wishes to announce and remind the interested public of its web site location,



WARNING: The company relies upon litigation protection for "forward-looking" statements.


For further information contact:



Mr. Ernest Harrison, EM, CEO       Mr. Marty Martinello, B.A., V.P.

Phone: 705-474-7282

Fax: 705-474-5491


Mr. Robert Chase, B.A., CFO



Fax:  416-368-6827





No regulatory authority or similar body approved nor disapproved the information contained herein.