MARINE MINING ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING

Toronto, ON - August 6 , 2010 - Further to its press release on April 16, 2010, Marine Mining Corp. (the “Corporation”) is pleased to announce that is has completed a non-brokered private placement of units of the Corporation (“Units”) pursuant to which an aggregate of approximately 3.3 million Units were sold to accredited investors resident in the Province of Ontario at a price of $0.12 per Unit, for aggregate gross proceeds of $400,000 (the “Offering”).

The Units sold pursuant to the Offering were comprised of one (1) common share of the Corporation (a “Common Share”) and one half (1/2) of a common share purchase warrant (a “Warrant”).  Each whole Warrant entitles the holder to purchase one additional Common Share on or before the date that is one (1) year from the date the Common Shares are listed for trading on a stock exchange in Canada, at an exercise price of $0.20 per Common Share. The Warrants contain a feature enabling the Corporation to accelerate the expiry date for the Warrants upon notice to the Warrant holders.

The Offering was conducted in accordance with the terms of a partial revocation (the “Partial Revocation”) of a cease trade order issued by the Ontario Securities Commission (the “Commission”) on May 6, 2004.

The proceeds from the Offering will be used to prepare and file with the Commission continuous disclosure documents with a view to obtaining a full revocation of the cease trade order, to pay filing fees with the Commission, to pay outstanding fees to the Corporation's transfer agent, to fund the preparation of the application for the revocation of the cease trade order, to advance the Corporation's current work program on its mineral properties in Ghana and to provide working capital.

In connection with the Offering, the Corporation will pay a cash finder’s fee of 7% of certain proceeds raised under the Offering and has issued 125,000 finder warrants.  Each whole finder warrant entitles the holder to purchase one Common Share subject to and upon the same terms as the Warrants issued pursuant to the Offering.

The securities issued in connection with the Offering will remain subject to the cease trade order until it is revoked

MARINE MINING CORP.
Tel: (416) 421-2277

FOR FURTHER INFORMATION, CONTACT:

Michael Hibbard,
President
(416) 421-2277

This press release contains “forward-looking”. All statements, other than statements of historical fact, that address activities, events or developments that the Corporation believes, expects or anticipates will or may occur in the future constitute forward-looking information. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained in this press release includes, but may not be limited to the granting of a full revocation of the cease trade order by the Commission.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the Corporation’s inability to complete its continuous disclosure filings or to satisfy the requirements of the Commission with respect to obtaining a full revocation order.