MANTRA RESOURCES: APPOINTMENT OF TED MAYERS AS DIRECTOR

PERTH, Western Australia, Sept. 3 /CNW/ - Mantra Resources Limited ('Mantra' or 'Company') (ASX:MRU, TSX:MRL) is pleased to announce the appointment of Mr Ted Mayers as an independent non-executive Director of the Company, effective immediately. Mr Mayers is based in Canada, is a Chartered Accountant and has extensive experience as a finance executive in the resources sector. It is intended that he will immediately join the Company's Audit Committee and ultimately assume the role of Chairman of that committee.

With over 25 years experience, Mr. Mayers has previously held a number of senior financial positions with publicly listed mining companies, most recently as Chief Financial Officer of Lundin Mining Corporation.

The Board believes the appointment of Mr Mayers is an important and timely step for the Company as it strives to evolve from explorer to a significant near-term uranium producer. Mantra is currently completing a Definitive Feasibility Study on its wholly owned Mkuju River Project ('MRP') in southern Tanzania.

Mr Mayers will receive an annual retainer of A$40,000. In addition, Mr Mayers will also be granted 87,500 share rights pursuant to the Company's Long Term Incentive Plan, subject to the necessary regulatory and shareholder approvals. The share rights will not have an exercise price, will be granted in four tranches and be subject to various key project development milestones for the MRP with expiry dates between 31 March 2011 and 31 December 2013.

ABOUT MANTRA RESOURCES LIMITED

Mantra is a dynamic and emerging uranium company with a portfolio of quality projects in southern Tanzania. The Company is dual listed on the Australian Securities Exchange ("ASX") under the code 'MRU' and the Toronto Stock Exchange ("TSX") under the code 'MRL'. Mantra is focused on aggressively pursuing the potential development and ongoing exploration of the MRP in Tanzania in order to fulfil its strategic objective of becoming a significant uranium producer in the near-term.

This news release contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to pre-feasibility and definitive feasibility studies, the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this news release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to the risk factors set out in the Company's Annual Information Form.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to update or revise any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.

For further information regarding the Mkuju River Project, including a description of Mantra's quality assurance program, quality control measures, the geology, samples collected and testing procedures in respect of the Mkuju River Project please refer to the technical reports prepared in accordance with NI 43-101 entitled "January, 2010 Resource Update - Mkuju River Project, located in Tanzania, Africa" dated 10 March 2010, "December, 2009 Resource Update - Mkuju River Project" dated 7 December 2009 and "Technical Report on the Mkuju River Project located in Tanzania, Africa" dated 18 September 2009, which are available under the Company's profile at SEDAR.

For further information: Peter Breese, Chief Executive Officer, Telephone: [phone], www.mantraresources.com.au