Mercator Minerals Ltd. Obtains Consent of Noteholders for Early Repayment

VANCOUVER, July 13 /PRNewswire-FirstCall/ - Mercator Minerals Ltd. ("Mercator"
or the "Company") is pleased to announce it has obtained the consent of the
holders of its secured 11.5% notes issued February 15, 2007 (the "Notes")
providing for an amendment to the Note Indenture and enabling the Company to
redeem the Notes prior to February 15, 2010 (the earliest date permitted for
redemption under the Note Indenture).

Mercator Minerals Ltd.

Mercator Minerals Ltd. is a TSX listed mining company with an experienced
management team that has brought the mill expansion at the Mineral Park Mine,
one of the largest and most modern copper-moly mining-milling operations in
North America to production in less than 2 years. Mercator management is
dedicated to maximizing profits by making its Mineral Park Mine one of the
lowest cost operations in the industry.

On Behalf of the Board of Directors

MERCATOR MINERALS LTD.

Per: "Michael L. Surratt"

Michael L. Surratt,
President

The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this press release.

SOURCE Mercator Minerals Ltd.

Marc LeBlanc, VP Corporate Development and Corporate Secretary, Tel: (604)
981-9661 or (604) 716-5582, Fax: (604) 960-9661, Email:
mleblanc@mercatorminerals.com