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

 

 

 

FOR IMMEDIATE RELEASE

Date: Dec. 22, 2004

Dec. 21, 2004 Close: $0.075

 

MILLSTREAM REPORTS TERMS OF

FLOW-THROUGH SHARE FINANCING

 

Toronto, Ontario –Millstream Mines Ltd. (MLM-TSX-V) wishes to announce that it is filing documentation to the TSX-Venture Exchange with respect to a non-brokered flow-through private placement share offering. A maximum of 4.0 million units will be offered resulting in gross proceeds of $600,000; or $0.15 per unit.

 

Each unit consists of one (1) flow-through voting share and one (1) common share purchase warrant with each warrant being exercisable for one (1) year at a price of $0.20 per share. The intended use of the proceeds is for exploration purposes on Millstream’s Ontario properties. The above share offering and attached warrants are subject to a four (4) month hold period from the date of closing.

 

Millstream, with its joint venture partner, Crowflight Minerals Inc. (CML-TSX-V), is presently in the midst of exploration activities on the Sudbury Airport Property (MLM PR Nov. 23, 2004) situated in Falconbridge Township on the south-eastern rim of the basin. The Airport Property has numerous outcrops containing large areas of Sudbury Breccia/ Psuedotachylite structures. This type of structure is the known favourable host for ores in the Sudbury Basin Footwall zones, and is found in the new Nickel Rim South discovery and at other mine locations around the Sudbury Basin.

 

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,

WWW.MILLSTREAMMINES.COM.

 

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

 

Phone:416-368-9595

Fax:  416-368-6827

 

Email: info@millstreammines.com Web:www.millstreammines.com

 

 

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