Private Placement

Millstream Mines Ltd. wishes to announce in conjunction with Hunter Dickinson Inc.'s ("HDG") financial arrangement for the funding of exploration on the Potter Mine Property, in northern Ontario, a private placement funding was to be arranged. HDG agreed to arrange for the purchase of 800,000 Units in the capital of Millstream to provide interim working capital and others agreed to arrange the purchase of 300,000 Units. The Units are priced at $0.50 each and consist of a common voting share and a full share purchase warrant exercisable for two years at a price of $0.50 per share. Price protection was obtained and granted by the Canadian Dealing Network (CDN) April 12, 1999 regarding the above transactions, which are subject to regulatory approval. All the purchasers of the above units are at arms-length to the company.

Millstream wishes to update the amount of issued shares, outstanding warrants and options as of this Release. In the press releases of March 9, 1999 and March 18, 1999 Millstream reported 27,156,876 shares issued, inclusive of the 1,355,037 for the December 31, 1998 flow-through funding. The correct amount of shares issued should have been 27,165,876. Recently, in consideration as commissions earned for the flow-through and the exercise of insider options a further 335,500 shares were issued for a current total shares issued of 27,501,376.

Outstanding Warrants

As of this date, there are warrants to purchase 1,727,519 common voting shares outstanding as follows: warrants to purchase 600,000 common voting shares @$0.30 until October 31, 2002; and warrants to purchase 450,000 common voting shares @$0.60 until December 16, 1999; and warrants to purchase 677,519 common shares @$0.45 until July 1, 2000.

Outstanding Options

As of this date, there are options, under the Corporate Stock Option Plan, to purchase 2,530,138 common voting shares outstanding as follows: options to purchase 902,500 common voting shares @$0.30 until August 27, 2002; and options to purchase 70,000 common voting shares @$0.30 until December 16, 2002; and options to purchase 100,000 common voting shares @$0.40 until February 5, 2000 and January 30, 2003; and options to purchase 900,000 common voting shares @$0.25 until September 4, 2003; and options to purchase 190,000 common voting shares @$0.30 until March 08, 2004 held by various directors, officers and employees of the Corporation. Additional options to purchase 61,495 common voting shares @$0.30 until December 16, 2002; and options to purchase 16,753 common voting shares @$0.30 until March 8, 2004; and options to purchase 100,000 common voting shares @$0.40 until December 19, 2002; and options to 189,390 common voting shares @$0.70 until March 30, 2003 of which none have yet been allotted.

Millstream, further wishes to announce and remind the interested public of its web site location, WWW.MILLSTREAMMINES.COM .

The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential. Millstream holds mineral claims or interests, directly or through wholly owned subsidiaries in Canada, USA, and the Czech Republic.