Press Release

Twin Mining Retains Research Capital as Financial and Strategic Adviser

Twin Mining Corporation (TSX: TWG) (“Twin”) announces that it has retained Research Capital Corporation as financial and strategic adviser to assist Twin in seeking and evaluating strategic and capital market alternatives to unlock the value of Twin’s significant assets.

Twin will consider a number of transactions to increase the visibility of its diamond and gold assets.

Strategic alternatives under consideration include the reorganization of Twin into two separate and distinct listed companies:

• A gold development company which will focus on bringing the Atlanta Gold Mine into production and on mine-site exploration to increase reserves and extend mine life.
• A diamond exploration and development company which will focus on accelerating the development of its Brodeur Peninsula project.

Twin is also considering strategic alternatives including mergers and acquisitions to achieve a greater critical mass and realize higher equity multiples for Twin’s diamond and gold assets.

Twin is a gold and diamond exploration and development company which owns or controls, directly or indirectly, majority interests in mineral properties located in regions which are geologically and geopolitically favorable for mineral development.

The Atlanta Gold Mine which is located in a historic mining region near Atlanta, Idaho, U.S.A. is expected to commence production in 2006, at a production rate in excess of 100,000 ounces of gold a year at a cash production cost of US$188 per ounce of gold, based on an updated feasibility study completed in November 2004 by Behre Dolbear & Company, Inc. Current estimates of saleable gold of 525,000 ounces from an open pit operation have significant potential to increase. The feasibility study has been filed in compliance with National Instrument 43-101 of the Canadian Securities Administrators and is available for review at www.sedar.com. Debt financing of US$33 million for mine construction committed by Investec Bank (UK) (see press release June 9, 2005).

Twin’s diamond exploration property consists of the Jackson Inlet East and West claim blocks and the Vista claim blocks totaling 1.3 million acres located on Brodeur Peninsula, Nunavut. To date, 3 diamondiferous pipes and a 1.7 km diamondiferous corridor have been recognized. Over 50 carats of gem quality diamonds have been recovered from mini-bulk sampling. In 2004, a MIDAS II™ high-sensitivity aeromagnetic survey and soil sampling identified 78 separate drill targets and 15 kimberlite indicator mineral clusters.

This news release includes statements about expected future events and financial results that are forward looking in nature and subject to risks and uncertainties. Twin cautions that actual performance may be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Twin currently foresees.