MINERAL HILL ANNOUNCES JOINT VENTURE AGREEMENT ON LIBERTY HILL GOLD MINE, NEVADA COUNTY, CA, USA

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	    VANCOUVER, Oct. 12 /CNW/ - Mineral Hill Industries Ltd (the "Company' or
"Mineral Hill") is pleased to announce that it has entered into agreements to
acquire a 50% Joint Venture participation (the "JV") in the Liberty Hill Gold
Mine owned by Mining and Energy International Corp. ("MEICO"), a private
company registered in Denver, CO, USA. Mineral Hill completed its due
diligence and negotiations based on a Letter of Intent, announced on June 28,
2010 by the Company. The Liberty Hill placer gold project encompasses the
Lowell Hill and Liberty Hill properties, consisting of 127 mining Claims
totaling approximately 2500 acres, located in southeastern Nevada County,
California. The project is located in the historical Mother Lode area on the
west side of the Sierra Nevada Mountains, approximately 3.5 miles northwest of
the Dutch Flat Exit on Highway I-80.
	    Mineral Hill entered into a 50:50 Joint Venture agreement based on
fulfilling certain conditions of an Earn-In-Agreement, under which the Company
is required to raise $1 million towards the acquisition price of the project,
and $1.5 million towards processing a previously stockpiled bulk sample of
about 40,000 cubic yards (yds) of gravel and the preparation for processing of
a further 1.4 million cubic yards of previously exposed material within the
gold-bearing channel. MEICO has applied for a renewal of the exploration and
extraction permits, in order to carry out an immediate start-up of the joint
work program as soon as Mineral Hill has received regulatory approval of the
transaction.
	    The Liberty Hill Gold Mine was in production prior to 1999 but ceased
operations due to the demise of one of the previous parties and the ensuing
litigation, which was concluded in 2007 in favour of MEICO and its affiliates.
Based on information obtained from Court documents, the size of the
gold-bearing placer body in the Mine was estimated at 440 million yds. The
historical reported gold concentration of 0.10 oz/yd was based on the presence
of gold nuggets. These figures are historical in nature, have not been
confirmed by the Company, and should not be relied upon for investment
purposes. During its most recent testing of some 250 yds, MEICO reported that,
in addition to the gold nuggets, the Mine may have a significant gold dust
content. The goal of processing the first 40,000 yds is, among other things,
to determine the accuracy of the reported concentration of both the gold dust
and the gold nuggets.
	    With respect to its "Praxis Goldfield Project", located in northern
British Columbia, Canada, Mineral Hill has entered into negotiations with a
junior exploration company for a joint exploration program for 2010 and 2011.
	   Mineral Hill's discussions and exchange of information with Ascot Mining
Plc are still under way in order to determine mutually acceptable terms for a
contemplated business transaction. The Agreement with MEICO will not impact or
delay any possible joint undertakings of both companies. A combined effort to
develop Mineral Hill's promising lithium and gold assets is of great interest
to both Ascot Mining Plc and Mineral Hill. Further details in this regard will
also be announced in due course.
	    Dr. Stewart Jackson, PhD, P. Geol., a "Qualified Person" as such term is
defined by National Instrument 43-101, has reviewed and approved the technical
information in this news release on behalf of Mineral Hill Industries Ltd.

	    About Mineral Hill Industries Ltd.

	    Mineral Hill Industries Ltd. is a Canadian based mineral exploration
company trading on the TSX Venture Exchange (MHI), the Frankfurt Exchange
(N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF). Mineral Hill has
accumulated a diversified portfolio of lithium and precious metal properties
in Canada and the USA. Although the Company's determination to develop its
promising lithium exploration projects will remain a focal point, Mineral
Hill's acceleration of its new gold exploration and production opportunities
south of Canada, and attracting a strong management team will be the focus for
the upcoming winter season.

	    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.






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	    /For further information: on Mineral Hill Industries Ltd. and its
projects visit the Company's website at www.mineralhill.com or contact: John
Punzo, Director, Mineral Hill Industries Ltd., Telephone: (604) 685-4170,
Email: [email protected]; Dieter Peter, President and CEO, Mineral Hill
Industries Ltd., Telephone: (604) 685-4170, Email: [email protected]/