Pathway Mining 2009 Flow-Through Limited Partnership Second Closing Initial Public Offering (Mining Flow-Through)

TORONTO, ONTARIO, May 25 (MARKET WIRE) --
Pathway Mining 2009 Flow-Through Limited Partnership (the "Partnership"
or "Pathway Mining 2009 FTLP") reports that it has completed a second
closing of its Initial Public Offering (the "Offering") and raised total
gross proceeds of $1,988,620 on the sale of an aggregate of 198,862
limited partnership units at $10.00 per unit pursuant to a Final
Prospectus dated March 16, 2009, which is available on SEDAR at
www.sedar.com. Wellington West Capital Inc., HSBC Securities (Canada)
Inc., Burgeonvest Securities Limited, Canaccord Capital Corporation,
Raymond James Ltd., GMP Securities L.P., Research Capital Corporation,
Integral Wealth Securities Limited and Argosy Securities Inc. acted as
agents in the Offering, with Wellington West acting as the lead agent.

Following completion of the Offering, Pathway Mining 2009 Inc., the
General Partner of the Partnership, will invest available funds of the
Partnership primarily in flow-through shares of resource companies
engaged in mineral exploration and development in Canada and listed on
the TSX or the TSX Venture Exchange. The General Partner will invest the
available funds such that Limited Partners will be entitled to claim
certain deductions from income and investment tax credits for income tax
purposes for the 2008 taxation year. The General Partner also plans to
invest the available funds with a view to achieving capital appreciation
of the Partnership's investments. The General Partner retained Pathway
Investment Counsel Inc. (the "Portfolio Manager") to provide investment
advisory services to the Partnership as Portfolio Manager, and William
D.B. Koenig, CFA, CMA will be the individual portfolio manager at Pathway
who will portfolio manage the Partnerships investments. The General
Partner also retained the geological and engineering consulting firm of
Watts, Griffis and McOuat Limited ("WGM") as consultants to provide
technical expertise, advice and due diligence services to the Portfolio
Manager generally in relation to the mining sector, and specifically in
relation to the identification, review and negotiation of individual
flow-through share investment opportunities for the Partnership. In
addition, WGM will have a continuing role with the Partnership in
monitoring the exploration activities of resource companies in which the
Partnership has invested to ensure that those resource companies will be
able to renounce Canadian Eligible Expenditures to the Partnership with
an effective date of December 31, 2009, and to assist the Partnership in
determining whether flow-through shares should continue to be held or
sold. Horst Mueller of Mueller Behavioural Analytics will provide
technical analysis in relation to the mineral sector to the Portfolio
Manager. Finally, Ronald J. Wortel, P. Eng., MBA and Barbara Y. Thomae,
P.Geo. who are employed as senior mining analysts by the Administrator
(MineralFields Fund Management Inc.), will provide geological analysis
through the Portfolio Manager. The federal tax shelter identification
number for the Partnership is TS 074773.

The third closing for Pathway Mining 2009 FTLP is expected on June 10,
2009 (settlement on June 12). Pathway also has a separate mining super
flow-through offering out now - Pathway Quebec Mining 2009 Flow-Through
Limited Partnership - available for Canadian residents in Quebec. Pathway
has also just launched Pathway Oil & Gas 2009 Flow-Through Limited
Partnership, with a focus on the oil and gas side of the flow-through
spectrum.

The following 9 prospectus offerings through Pathway Asset Management
from 2006 through 2008 all sold out and were oversubscribed: Pathway
Mining 2006 Flow-Through Limited Partnership, Pathway Mining 2006-II
Flow-Through Limited Partnership, Pathway Mining 2007 Flow-Through
Limited Partnership, Pathway Mining 2007-II Flow-Through Limited
Partnership, Pathway Mining 2007-III Flow-Through Limited Partnership,
Pathway Quebec Mining 2007 Flow-Through Limited Partnership, Pathway
Mining 2008 Flow-Through Limited Partnership, Pathway Quebec Mining 2008
Flow-Through Limited Partnership, Pathway Oil & Gas 2008 Flow-Through
Limited Partnership and Pathway Quebec Mining 2008-II Flow-Through
Limited Partnership.

Pathway Group's first offering - Pathway Mining 2005 Flow-Through Limited
Partnership - which closed in late 2005, was dissolved 20 months ahead of
schedule, on May 8, 2006, and rolled over into an RRSP-eligible mutual
fund corporation (Pathway Multi Series Fund Inc.) to provide investors
with early liquidity on a tax-deferred basis. At early dissolution, each
$10 unit was worth $19.90, representing a pre-tax return of 99 %, and an
after-tax return of 325.98 % before factoring in capital gains tax, and
227.13 % when capital gains tax is factored in (the after-tax returns are
calculated in accordance with certain assumptions disclosed in the
prospectus). Pathway Group's second offering - Pathway Mining 2006
Flow-Through Limited Partnership - was also dissolved and rolled over 16
months ahead of schedule @ $11.19 per $10.00 unit, with an after-tax
return of 140.99 % before factoring in capital gains tax, and 85.00 %
when capital gains tax is factored in (the after-tax returns are
calculated in accordance with certain assumptions disclosed in the
prospectus). Pathway Group's third offering - Pathway Mining 2006-II
Flow-Through Limited Partnership - was also dissolved and rolled over 7
1/2 months ahead of schedule @ $10.09 per $10.00 unit, with an after-tax
return of 116.61 % before factoring in capital gains tax, and 66.35 %
when capital gains tax is factored in (the after-tax returns are
calculated in accordance with certain assumptions disclosed in the
prospectus). In other words, Pathway Asset Management has dissolved and
rolled over each of its first 3 prospectus offerings way ahead of
schedule, and above par. And just over a week ago, Pathway Quebec Mining
2008-II Flow-Through Limited Partnership was also dissolved and rolled
over 19 months ahead of schedule @ $12.25 per $10.00 unit, with an
after-tax return of 244.59 % before factoring in capital gains tax, and
161.51 % when capital gains tax is factored in (the after-tax returns are
calculated in accordance with certain assumptions disclosed in the
prospectus.

Pathway Asset Management and its affiliates have raised $576,331,360 in
their flow-through limited partnerships to date since their inception.

Information on the Partnership can be obtained by visiting the website
www.pathwayam.com or by contacting the General Partner by e-mail at
jd@mineralfields.com, by telephone at (416) 665-9339 ext 221, toll-free
at 1 (800) 339-9169 ext 221, or by facsimile at (416) 665-9331.

Contacts:
Pathway Asset Management
Imtiaz Hashmani
CFO
(416) 665-9339 Ext. 229 or Toll Free 1-800-339-9169 Ext. 229
(416) 665-4772 (FAX)
Website: www.pathwayam.com

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