Tosca Drills 362.4 Metres of 0.089% Mo, Including 253 Metres of 0.1% Mo in Hole TMC-25 and 301.4 Metres of 0.09% Mo Including 42.4 Metres of 0.16% Mo in Hole TMC-29

VANCOUVER, British Columbia--(BUSINESS WIRE)--Tosca Mining Corporation (TSQ.V; US: TSMNF; FSE:TQ4)(Pink Sheets: TSMNF) today announced it has received assay results for the remaining 13 holes from its 4,873 metre (16,000 ft.) phase two diamond drill program carried out at the Red Hills Molybdenum-Copper project, located in Presidio County, Texas.

In reviewing the results of the 2011 drill program, Dr Sadek El-Alfy, Chairman and CEO of the company comments; “the drill program has successfully verified historic drill results of the shallow Copper-Molybdenum cap and confirmed the presence of a deeper well mineralized Molybdenum Porphyry deposit. The 2011 program encountered numerous thick mineralized intervals with grades in the 0.07% to 0.1% Mo range, and established the presence of elevated Rhenium content at Red Hills. The Molybdenum grades are similar and in some cases higher than those of projects currently considered of potential economic interest."

The results of 21 holes drilled through the copper/moly cap in Tosca’s 2011 drill program give a weighted average grade of 0.39 % Cu over a core length of 113 feet (34.5 m). Since the copper cap is subhorizontal, the average core length can be interpreted as being approximately equivalent to true width. The copper/moly cap is crescent shaped, approximately 4,000 feet (1220 metres) long and 400 feet (122 m) to 1000 feet (305 m) wide.

All of the holes except TMC-25 and 29 - 31 were short vertical holes drilled to penetrate the shallow copper-molybdenum cap overlying the much larger molybdenum porphyry system. All the short holes intersected intervals containing chalcocite mineralization and accompanying molybdenite -bearing veinlets. The grade of the mineralized intercepts from the copper cap vary from 0.23 % Cu over 40 feet (12.2 m) in hole TMC-19 to 0.61% Cu over 236 feet (71.9 m) in hole TMC-25. The molybdenum grades accompanying copper mineralization range from 0.026% Mo in hole TMC-20 to 0.073 % Mo in hole TMC-23. Copper mineralization was also encountered in holes TMC-30 and 31, the best interval grading 1.46% Cu over 18.5 feet (5.6 m).

The two holes (TMC-25 and TMC 29) drilled through the copper-molybdenum cap to test the deep molybdenum system returned excellent grades from top to bottom. TMC-29 was an angle hole drilled to check the distribution of deep molybdenum mineralization along the west end of the deposit.

Hole TMC-25 intersected 1189 feet (362.4 m) averaging 0.089% Mo including 830 feet (253 m) of 0.1% Mo from 359 feet (109.8 m) to the bottom of the hole. Hole TMC-29 cut 989 feet (301.4 m) averaging 0.09 % Mo including 139 feet (42.4 m) of 0.16% Mo. As shown in the accompanying table, significant rhenium concentrations occur in many holes (e.g 580 ppb Re over 830 feet (253 m) in hole TMC-25, 945 ppb Re over 100 feet (30.5 m) in hole TMC-25 and 808 ppb Re over 71 feet (21.1 m) in hole TMC-28).

The results of holes TMC -19 to 31 are summarized below and their locations can be found at www.toscamining.com/i/maps/drillplan.

	Azimuth/
	Inclination	Length	Length	From	To	Interval	Interval			Re **	Mo
Hole	(Degrees)	(Feet)	(Meters)	(Feet)	(Feet)	(Feet)	(Meters)	Cu%	Mo%	(ppb)	Equiv.*
TMC - 19	-90	275	83.8	64.4	275	210.6	64.2	0.10	0.040		0.07
		includes		179	219	40.00	12.2	0.23	0.050		0.11
TMC - 20	-90	249	75.9	29	148.5	119.5	36.4	0.41	0.026		0.13
				29	249	220	67.1		0.037		0.04
				213.5	249	35.5	10.8		0.093		0.09
TMC - 21	-90	249	75.9	0	249	249	75.9	0.10	0.061	319	0.09
		includes		49	79	30	9.1	0.27	0.043		0.11
		includes		176	249	73	22.3	0.08	0.089		0.11
TMC - 22	-90	214	65.2	29	214	185	56.4	0.08	0.048		0.07
TMC - 23	-90	249	75.9	0	249	249	75.9	0.23	0.073	430	0.13
				9	89	80	24.4	0.59	0.056		0.20
				139	249	110	33.5	0.05	0.093	557	0.11
TMC - 24	-90	199	60.7	0	199	199	60.7		0.060		0.06
		includes		89	129	40	12.2	0.28	0.058	593	0.13
TMC - 25	-90	1189	362.4	0	1189	1189	362.4		0.089		0.09
		includes		359	1189	830	253		0.100	580	0.10
		includes		99	335	236	71.9	0.61	0.060	422	0.21
		includes		139	192	53	16.2	2.19	0.026		0.57
		includes		319	419	100	30.5	0.17	0.098	945	0.14
TMC - 26	-90	339	103.4	0	339	339	103.4		0.071	417	0.07
		includes		59	179	120	36.6	0.17	0.066	488	0.11
		includes		59	99	40	12.2	0.29	0.060		0.13
TMC - 27	-90			0	349	349	106.4	0.12	0.051	391	0.08
		includes		139	189	50	15.2	0.34	0.048	196	0.13
TMC -28	-90	399	121.6	49	399	350	106.7	0.14	0.053	381	0.09
				178	249	71	21.6	0.19	0.061	808	0.11
				288	369	81	24.7	0.26	0.066	359	0.13
TMC - 29	2/-51	989	301.4	0	989	989	301.4		0.090	372	0.09
				153	277.5	124.5	38.25	0.11	0.096	590	0.12
				798	937	139	42.4		0.160	559	0.16
TMC - 30	70/-50	253	77.1	160	205.5	45.5	13.9	0.37			0.09
TMC - 31	121/-66	451	137.4	150.5	172	21.5	6.6	0.46			0.12
				263.5	282	18.5	5.6	1.46			0.37

* Mo Equiv. : (Cu%/4) + Mo

** The rhenium averages include intervals with Re contents above the laboratory upper detection limit of 1,000 ppb Re. The figure of 1,000 ppb rhenium was used in calculating the averages.

The Company is currently working with Mine Development Associates of Reno Nevada on preparing a new resource estimate, which is expected to be completed by year end.

In parallel, The Company is working with Metcon Laboratories in Tucson Arizona, on establishing the flotation parameters to producing saleable Copper and Molybdenum concentrates, with results also expected by year end.

QA/QC

All analytical work was carried out at Skyline Assayers and Laboratories (“Skyline) in Tucson, Arizona. Copper and molybdenum were analyzed by ICP/OES. Rhenium values were derived by Aqua Regia leach analyzed by ICP/MS. Skyline is an ISO/17025 accredited laboratory. Skyline monitors quality control through the introduction of blanks, standards and duplicates. In addition, Tosca’s employees routinely insert blanks and standards in the sample stream.

Dr. Luca Riccio, P.Geo, a qualified person as defined by NI 43-101, is responsible for the technical information contained in this release.

On Behalf of the board of directors,
"Ron Shenton"

For further information, please visit the company's website at www.toscamining.com or call Brian Roberts at 604-687-6562. Email: [e-mail] Twitter: http://bit.ly/vxgOOv Facebook: http://on.fb.me/uKjo1N

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

Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.