MMP.UN Precious Metals and Mining Trust

Precious Metals and Mining Trust (TSX:MMP.UN) (the "Trust") is pleased to
announce that it has filed a final short form prospectus in each province and
territory of Canada, in connection with its treasury offering (the "Offering")
of up to 7,095,553 units of the Trust (the "Units") for gross proceeds up to $75
million. The Agents (as defined below) have been granted an over-allotment
option 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.


Offering Price

The Offering is priced at $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.


Use of proceeds

Subject to the Trust's investment restrictions, the net proceeds of this
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.


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 on 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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