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TORONTO, ONTARIO--(Marketwire - May 7, 2010) - Tribute Minerals Inc. (the "Company" or "Tribute") (TSX VENTURE:TBM) is pleased to announce that it has completed the placement of 1,893,875 flow-through common shares priced at $0.12 per share (the "FT Shares") for gross proceeds of CDN$227,265. All of the securities referred to herein will bear a legend and be restricted from trading until September 6, 2010.

The proceeds from the offering will be used for exploration on Tribute's properties.

Concurrently, Tribute Minerals Inc. has contracted an airborne electromagnetic ("VTEM") survey of five blocks of claims over its 100% wholly owned property package in the James Bay Lowlands 'Ring of Fire'. The survey will encompass approximately 1,100 line kilometres. It will include the coverage of the interpreted major regional east-west magnetic trend that stretches for 24 kilometres. This trend was staked by Tribute in November and December 2009 and is along strike to the recently drilled Sunday Anomaly (News Release April 19, 2010).

Management believes this trend is favourable for hosting magmatic massive sulphide type mineralization similar to that found at Eagle One. With the exception of the Sunday Anomaly, this newly acquired ground remains unexplored. In total, Tribute owns approximately 39,500 hectares of claimed ground in the McFaulds Camp making it one of the largest 100% owned exploration landholders in the region.

Tribute would like to inform their shareholders that the CRONE borehole EM surveys planned for selected drill holes in the vicinity of SB-10-15, announced previously, will commence as soon as the equipment is available.

This press release under the direction of Trevor Boyd, P.Geo, Vice President Exploration, Tribute, and a qualified person (QP) for the purposes of NI 43-101.

The Company currently has 130,844,137 common shares issued and outstanding.

On behalf of the Board of Directors,

Ian A. Brodie-Brown, President.

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.