Dear Shareholders,

Appended below (with active links to our website), please find a press release for Moneta Porcupine Mines Inc. ("Moneta") disseminated today, January 18, 2012, announcing the filing of the National Instrument 43-101 ("NI 43-101") independent technical report of 3.1 million ounces gold for the Windjammer South, the Southwest Zone and the 55 Zone, all located on its 100% owned Golden Highway Project located east of Timmins, Ontario (Canada).

Drilling in 2012 will focus on the significant resource expansion potential which exists within the Whittle optimized pit shells along strike in previously untested areas, as well areas immediately bordering the pit outline, in an attempt to substantially increase the tonnage and scale of the existing (modeled) pits. Moneta also plans to continue systematic testing the 50+ drill targets on the Golden Highway Project generated from the comprehensive structural review and interpretation completed in 2011.

Moneta believes that downside risk of the stock price has been substantially reduced if not eliminated given its current low market capitalization. We encourage you to review the peer group analysis on Moneta's corporate presentation available at www.monetaporcupine.com. We believe that there is a significant opportunity for a stock price rerating to considerably higher levels which is supported by the December 2011 analyst research note which confirmed a target price of $0.95.

Do not hesitate to contact me with any questions.

Ian C. Peres, CA
President & CEO
Tel. 416.579.3040 (Toronto)
Tel. 705.264.2296 (Timmins)

Wednesday, January 18, 2012
Moneta Files NI 43-101 Report Of 1.1 Million Ounces Indicated Plus 2.1 Million Ounces Inferred at Golden Highway Project Near Timmins

January 18, 2011, Timmins, Ontario - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta") is pleased to report the filing of its National Instrument 43-101 ("NI 43-101") independent technical report for the Windjammer South, the Southwest Zone and the 55 Zone, all located on its 100% owned Golden Highway Project located east of Timmins, Ontario (Canada).

Highlights from the NI 43-101 resource estimate (December 1, 2011 press release) include:

Mineral Resource Estimate:
- Indicated: 1,071,000 ounces (33.5 Mt at 1.00 g/t Au); plus
- Inferred: 2,069,600 ounces (47.8 Mt at 1.35 g/t Au);
In-Pit Mineral Resources (included in the Mineral Resource Estimate):
- Indicated: 1,001,600 ounces (32.9 Mt at 0.95 g/t Au); plus
- Inferred: 1,280,000 ounces (40.6 Mt at 0.98 g/t Au);
Strong potential for both in pit and out of pit resource growth.

The Report has been filed and is available under Moneta's profile at www.sedar.com or Moneta's website via the following link: http://www.monetaporcupine.com/i/pdf/SEDAR-Moneta-Jan-15-12.pdf.

The Golden Highway Project update includes initial NI 43-101 resource estimates on the 55 Zone and Southwest Zone, in addition to an updated NI 43-101 resource on Windjammer South. An additional seven gold zones, including the newly-discovered Gap Zone, are not currently included in this NI 43-101 resource estimate.

The NI 43-101 Technical Report was co-authored by Eugene Puritch, P.Eng., Antoine Yassa, P.Geo., Tracy Armstrong, P.Geo., and David Burga, P.Geo. of P&E Mining Consultants Inc. of Brampton, Ontario, all Independent Qualified Persons, as defined by National Instrument 43-101.

About Moneta
Moneta holds a 100% interest in 5 core projects strategically located along the Destor Porcupine Fault Zone in the world class Timmins Camp with excellent infrastructure including access roads, water, electricity, and mills. The land position is one of the largest - after three gold producers - including the highly prospective Golden Highway Project which covers 12 kilometers of a volcanic/sedimentary belt similar to that which has hosted the bulk of the 85 million ounces mined to date in the Timmins Camp.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Ian C. Peres, President & CEO
416-579-3040 (Toronto)
705-264-2296 (Timmins)
iperes@monetaporcupine.com

Associated File: http://www.monetaporcupine.com/i/pdf/JAN_18_2011-SEDAR_FILING_43-101.pdf

Moneta Porcupine Mines Inc

	EXPLORATION STAGE
	CODE : ME.TO
	ISIN : CA6092861096

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Moneta Porcupine Mines is a gold and copper development stage company based in Canada.

Moneta Porcupine Mines holds various exploration projects in Canada.

Its main exploration properties are GOLDEN HIGHWAY, MICHAUD, NORTH TISDALE, POTTER STOCK and DENTON-THORNLOE in Canada.

Moneta Porcupine Mines is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 197.9 millions as of today (US$ 158.2 millions, € 138.6 millions).

Its stock quote reached its lowest recent point on November 21, 2008 at CA$ 0.03, and its highest recent level on April 22, 2022 at CA$ 2.97.

Moneta Porcupine Mines has 238 450 000 shares outstanding.

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