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TORONTO, ONTARIO--(Marketwire - Sept. 24, 2009) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) wishes to announce that it has entered into agreements to settle an aggregate of $424,076.28 of debt in consideration for the issuance of securities of the Company. The debt settlements will greatly reduce the Company's liabilities and better position the Company to move forward with its McFaulds Lake property.

The Company has negotiated a settlement with two arms-length creditors to settle $159,200 worth of debt in consideration for the issuance of Units of the Company priced at $0.08 per Unit. Each Unit is comprised of one (1) common share and one-half (1/2) of a common share purchase warrant with each full warrant exercisable to purchase a further common share $0.15 for one year. An aggregate of 1,990,000 Units will be issued. The Company has also negotiated a settlement of insiders' debts relating to management fees, geological fees, consulting fees, accounting fees, legal fees and directors fees for an aggregate of $195,927.68 in consideration for the issuance of 2,449,096 common shares priced at $0.08 per share. The Company has also negotiated a settlement of employee and consulting debts aggregating $68,948.60 in consideration for the issuance of 861,857 common shares priced at $0.08 per share. The debt settlements are subject to the approval of the TSX Venture Exchange.

The insider debt settlements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI61-101") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to insiders does not exceed 25% of its market capitalization.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation 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.