Millstream Sets Terms of Financing

TORONTO, ONTARIO, Mar 30 (MARKET WIRE) --
Millstream Mines Ltd. (TSX VENTURE: MLM) (FRANKFURT: NJD) wishes to
announce that it is endeavouring to raise funds by way of a non-brokered
private placement offering of up to 2,000,000 units for maximum gross
proceeds of $100,000. Each unit is comprised of (1) one common voting
share and a one half (1/2) common voting share purchase warrant. Each
full purchase warrant will entitle the holder to purchase one (1)
additional common voting share for a period of one (1) year at a price of
$0.20. The above share issuance and attached warrants are subject to a
four (4) month hold period from the date of closing.

The intended use of these proceeds is for exploration and development of
its Montana Property interests and for general working capital purposes.
The above private placement is subject to TSX Venture Exchange approval.

About Millstream Mines Ltd.

Millstream Mines Ltd. is a Canadian-based mineral exploration company
whose principle objective is to enhance and develop known mineral
properties to production potential. The Company has projects in the
Province of Ontario, Canada and in the State of Montana, USA. The past
producing Potter Mine Property is host to copper-zinc-cobalt "stacked"
mineralized zones located in the highly prolific Abitibi Greenstone Belt
and more specifically in the Kidd-Munro Assemblage near the town of
Matheson in north eastern Ontario. A recently published initial NI 43-101
compliant resource estimate on the Potter revealed an indicated resource
of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1
ppm silver, and 127.5 ppb gold along with an inferred resource of
2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm
silver, and 81.7 ppb gold. The Tamarack Gold Property, a high grade
former gold producer in the Tobacco Root Mountains of south western
Montana, is in an advanced stage of underground exploration and
development operating under the Small Mines Exclusion Act of the State of
Montana.

Millstream seeks safe harbour with regard to forward looking statements.

71,851,707 SHARES ISSUED

Mar. 27, '09 Close: $0.05

The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
release.

Contacts:
Millstream Mines Ltd.
Mr. Ernest Harrison, EM
Chairman and CEO
(705) 474-7282
(705) 474-5491 (FAX)

Millstream Mines Ltd.
Mr. Marty Martinello, B.A.
Executive V.P.
(705) 474-7282
(705) 474-5491 (FAX)

Millstream Mines Ltd.
Mr. Robert Chase, CFA
President and CFO
(416) 368-9595
(416) 368-6827 (FAX)
Email: info@millstreammines.com
Website: www.millstreammines.com

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