MSLM Mascot Silver Lead Mines (CE)

Mascot Silver-Lead Mines, Inc. (Pink Sheets:MSLM) opened a shareholders meeting Saturday, May 14, 2005, at the Wallace Inn in Wallace, Idaho. Due to having less than 50% of the outstanding and issued shares being represented by proxy or in person, the meeting was adjourned and reconvened on July, 16, 2005, at the Mascot office in Kellogg. The business of the Shareholders Meeting was concluded at that time. Mascot Mines, Inc. President Joseph J. Wallace, Jr. reported the following. Slightly over 50% of the outstanding and issued shares were represented by proxy. More than 95% of the proxies cast were in favor of the issues before the shareholders. The nominees for the Board of Directors were elected, the company name was changed to Mascot Mines, Inc., the capitalization was increased to 50,000,000 shares from 8,000,000 shares common stock and the number of directors authorized was increased to "no less than 6 nor more than 10." The nominees for the Board of Directors were elected for a one-year term by 100% of the proxies cast. Joseph J. Wallace, Jr., Fred W. Brackebusch, Charles Asher, Milton Datsopoulos, Kimball Barnard, and Martin Clemets were elected to the board. The Articles of Incorporation were amended by votes as follows: 95.45% favorable votes to increase the capitalization from 8,000,000 shares to 50,000,000 shares common stock. 99.7% favorable votes to change the name of the company from Mascot Silver-Lead Mines, Inc. to Mascot Mines, Inc. 99.7% favorable votes to increase the number of directors allowed from "no fewer than three (3) nor more than five (5)" to "no fewer than six (6) nor more than ten (10)." Mr. Wallace stated, "On behalf of myself and the rest of the newly-elected Board Members, we would like to thank all our shareholders for continuing to allow us the privilege of continuing to serve as your officers of Mascot Mines, Inc." However, on a sad note, Mr. Wallace reported that long-time Mascot Silver-Lead Mines Inc. director and well-known Coeur d'Alene Mining District mine contractor, owner, operator Charles Asher, passed away on July 13, 2005, just prior to the conclusion of the business of the shareholders meeting. The remaining board members send condolences to the family and the community for their loss. This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.