MacMillan Minerals Inc. (CNSX: MMX) is pleased to announce that it has closed, subject to regulatory approvals, a private placement of $550,000. The financing as news released September 21, 2010 was closed September 30, 2010 oversubscribed by 10%. The financing consists of 11,000,000 units at $0.05. Each unit consists of one common share plus one warrant exercisable for one additional common share at $0.08 for up to 24 months after the closing date. Four insiders consisting of three directors and a senior officer subscribed for 1,710,000 units representing $85,500 or 16% of the financing.

The 11,000,000 common shares and 11,000,000 warrants issued September 30, 2010 will be restricted for a period of four months until February 1, 2011.

Subject to regulatory approval, the Company expects to issue finder’s fees of 8% in units or 10% in cash if regulatory approval is not received within 30 days. Insider subscriptions are not subject to finder’s fees.

The proceeds will be used for general working capital purposes including funding exploration on the Company’s Mexico properties. There are currently 42,027,375 common shares issued and outstanding including this financing and prior to the issue of any finder’s fee units.