Mercator Selects Contractor and Engineer for Mineral Park Copper-Moly Mine Mill Expansion

Mercator Minerals Ltd. (ML-TSX) today announced the selection of a contractor and engineer for the construction and expansion of the Mineral Park Copper-Moly mine.

Mercator has selected the contractor, Schmueser & Associates, Inc. of Rifle, Colorado (“Schmueser”) to be the prime constructor for the plus $100 million construction project. Schmueser will provide general contracting services in the dismantling, move, installation, and expansion of the used concentrator purchased by Mercator in 2005, from its present location in Tucson to the Mineral Park Mine in Kingman, Arizona.

“Mercator solicited proposals from a number of contractors that were supplied with detailed specifications. The Schmueser bid was highly competitive on both cost and technical strength. Schmueser has a great depth of experience and we look forward to working with a contractor of Schmueser’s vast experience and outstanding reputation,” Mercator’s President and CEO, Mike Surratt, said.

The Company has also selected KD Engineering Co., Inc. of Tucson, Arizona (“KD”) as the engineer for the Mineral Park Copper-Moly mine mill expansion project. KD will provide detailed project engineering for the expansion of the mill from 20,000 tons per day to 37,000 tpd, including design of the Moly circuit.

“KD’s vast experience in copper metallurgy and concentrator design is well known in the industry. We are very pleased with the metallurgical work, technical assistance and engineering that KD has done over the last year and we are very pleased that they have agreed to continue to provide technical and engineering services for the expansion.” said Surratt.

The selection of the contractor and engineer for the Phase 4 expansion is another important step forward in the ramp up of copper production and the addition of moly and silver production at Mineral Park”, said Mike Surratt, the President and CEO of Mercator.

About Schmueser & Associates, Inc.
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Schmueser & Associates, Inc. was founded in 1980, and is a direct hire industrial general contractor, providing civil, structural, mechanical, electrical and instrumentation construction services to the mining industry. Corporate offices are located in Rifle, Colorado, with branch offices in Winnemucca, Nevada, Wright, Wyoming and Florence, Montana.

Schmueser & Associates specializes in construction or process plants utilized to recover precious metals, base metals, coal, soda, ash, and other mined resources. Recently completed projects include the Lisbon Valley Mining Project near Moab, Utah, and major portions of the Phoenix Project for Newmont Mining Corporation near Battle Mountain, Utah. For additional information regarding Schmueser & Associates, Inc., visit their website at www.schmueser-inc.com.

About KD Engineering Co., Inc.
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KD Engineering & Metcon Research were founded in 1982 by Mr. Joseph Keane P.E. KD Engineering is an international engineering consulting group that delivers a broad range of services including; metallurgical testing, engineering, process design, feasibility studies to N.I. 43-101, and construction management services. KD Engineering has extensive experience in the design of plants for the processing of ores containing gold, copper, zinc, molybdenum, uranium and other commodities, such as tungsten and tin. KD Engineering has a highly qualified and experienced, multi disciplined international engineering team, which provides expertise and exceptional service to many of the most prestigious companies in mining. Since its founding, KD Engineering has assisted hundreds of clients throughout the world by developing projects and installing processing plants with capacities in excess of 25,000 tons.

KD Engineering and Metcon Research corporate offices are located at 7701 N. Business Park Drive, Tucson, Arizona 85743.

Mercator Minerals Ltd.

Mercator Minerals is a copper producer that owns and operates the Mineral Park SX/EW Copper Mine in Arizona, with a corporate strategy focused on maximizing the production potential of the Mineral Park copper-molybdenum deposit. Mercator, in its September 5, 2006, news release, announced positive results from an independent technical study for the expansion of its wholly owned Mineral Park copper mine to a 37,000 ton-per-day milling operation producing copper-silver and molybdenum concentrates in parallel with its current SX/EW copper production. The Company has filed a technical study for an expansion of increased copper production plus molybdenum, and silver production.

On Behalf of the Board of Directors

MERCATOR MINERALS LTD.

Per: “Michael L. Surratt” Michael L. Surratt,

President

This press release contains certain forward-looking statements, which include estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the size and quality of the Company’s mineral reserves and mineral resources, future production, capital and mine production costs, demand and market outlook for commodities, and the financial results of the Company. These forward-looking statements involve numerous assumptions, risks and uncertainties and actual results may vary.

Factors that may cause actual results to vary include, but are not limited to, changes in commodity and power prices, changes in interest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials and equipment, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets. These risks are described in more detail in the Company’s Annual Information Form. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this report or release or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.

For further information

Marc LeBlanc, Corporate Secretary, Tel: (604) 981-9661 or (604) 716-5582, Fax: (604) 960-9661, Email: mleblanc@mercatorminerals.com

Source: Mercator Minerals, Ltd.