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TORONTO, ONTARIO--(Marketwire - Oct. 15, 2009) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) and Webequie First Nation are pleased to announce that a Memorandum of Understanding (the "MOU") has been signed to set forth the proposed terms for an exploration and consulting agreement to be negotiated between Webequie First Nation and the Company.

Under the terms of the MOU, Tribute is granted permission to begin drilling and Webequie First Nation has been granted stock options in consideration for the ongoing relationship between the two groups in respect of the proposed work program in the Webequie First Nation's traditional territory.

Tribute will begin drilling immediately on its Sunday anomaly targets in the "Ring of Fire" - James Bay Lowlands, property.

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.