Precious Metals and Mining Trust (TSX:MMP.UN) treasury offering raises maximum $75 million

Precious Metals and Mining Trust (the "Trust") (TSX:MMP.UN) is pleased to
announce that the Trust's treasury offering (the "Offering") closed today. The
Offering raised aggregate gross proceeds of $75 million and resulted in the
issuance of an additional 7,095,553 units of the Trust ("Units"). Units were
issued at a price of $10.57 per Unit, which reflects the Trust's net asset value
per Unit of $10.12 as at November 19, 2010, plus the fees and expenses of the
Offering. The Agents (as defined below) have been granted an over-allotment
option exercisable within 30 days of the closing of the Offering to purchase an
additional 1,064,333 Units which, if fully exercised, would bring the total
gross proceeds of the Offering to approximately $86.25 million, before deducting
the payment of expenses of the Offering by the Trust. 


Use of proceeds

Subject to the Trust's investment restrictions, the net proceeds of the Offering
will be invested by the Trust in securities in accordance with the investment
objectives and the investment strategy of the Trust.


Precious Metals and Mining Trust

The Trust is a closed-end investment trust that aims to provide unitholders with
long-term capital appreciation and monthly cash distributions. The Trust invests
in an actively managed portfolio consisting primarily of equity securities of
mining issuers, with a current emphasis in the gold sector, listed on a North
American stock exchange.  The Trust trades on the Toronto Stock Exchange under
the symbol MMP.UN. 


Agents  

The syndicate of agents, co-led by RBC Capital Markets and CIBC, includes BMO
Capital Markets, Canaccord Genuity Corp., National Bank Financial Inc., Scotia
Capital Inc., TD Securities Inc., Dundee Securities Corporation, GMP Securities
L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities
Inc., Industrial Alliance Securities Inc., Mackie Research Capital Corporation,
Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington
West Capital Markets Inc. (the "Agents").


Sentry Investments

Sentry Investments is a Canadian asset management company that offers a diverse
range of investment products including mutual funds, hedge funds, flow-through
limited partnerships, closed-end trusts and other alternative investments,
covering a variety of domestic and global mandates.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect," "intend," "will" and similar expressions to the extent they relate to
Sentry Select Capital Inc. ("Sentry"), the manager of the Trust, and/or the
Trust. The forward-looking statements are not historical facts but reflect
Sentry's current expectations regarding future results or events including, but
not limited to, the intended use of proceeds from the Offering. These
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. Although Sentry believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are cautioned not to
place undue reliance o-n such statements due to the inherent uncertainty
therein. Sentry and/or the Trust undertakes no obligation to update publicly or
otherwise revise any forward-looking statement or information whether as a
result of new information, future events or other such factors which affect this
information, except as required by law. For a complete disclosure record of the
Trust, please visit the Trust's profile at www.sedar.com. 


This offering is only made by prospectus. The final short form prospectus, dated
November 22, 2010, contains important detailed information about the securities
being offered. Copies of the final short form prospectus may be obtained from
the Agents or is available electronically at www.sedar.com. Investors should
read the prospectus before making an investment decision. 




Sentry Investments                                                          
The Exchange Tower                                                          
130 King Street West                                                        
Suite 2850, P.O. Box 104                                                    
Toronto, Ontario M5X 1A4                                                    
Telephone: (416) 861-8729                                                   
Fax: (416) 364-5615

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