MINERAL HILL PROVIDES AN UPDATE REGARDING THE FINANCING ANNOUNCED ON APRIL 29, 2022

VANCOUVER, BC, July 28, 2022 /CNW/ - Mineral Hill Industries Ltd. ("Mineral Hill" or "the Company") listed on the TSX Venture exchange ("TSXV") under the trading symbol "MHI" and on the Deutsche Boerse, Frankfurt under the trading symbol "MLN" announces that it plans to complete the private placement announced on April 29, 2022, which has been delayed.

The conditions of the financing will remain the same with the Company raising $150,000 comprised of 600,000 common shares at $0.25. The funds will be used for working capital.

Due to the current financial climate, the Company has experienced some delays but has received an executed subscription agreement and expects to close the private placement in the near future.

The private placement is subject to the acceptance by the TSX Venture Exchange and cannot close until it is accepted by the TSX Venture Exchange.

ABOUT MINERAL HILL INDUSTRIES LTD.

Mineral Hill is a publicly trading junior mining company focused on the acquisition, exploration, development and possible mining of natural resources, with the objective of developing the Dot-Apex Claim Group ("Apex Claims") and the Master-ACE Claim Group ("ACE Claims"), located in south-western British Columbia (the "BC-Project").   

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the private placement referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.

SOURCE Mineral Hill Industries Ltd.

Dieter Peter, President & CEO; Phone: [phone]