MAE Maritime Resources Corp

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES 

Maritime Resources Corp. (TSX VENTURE:MAE) ("Maritime") announces it intends to
raise approximately $970,000 to finance exploration on the Company's Green Bay
Property in Newfoundland. The financing will consist of a non-brokered private
placement of flow-through shares (the "FT Shares") and non flow-through units
(the "Units").


The flow-through financing will comprise up to 2,500,000 shares at $0.25 per FT
Share. The non flow-through financing will comprise up to 1,500,000 Units at
$0.23 per Unit. Each Unit will consist of one common share and one-half
non-transferable share purchase warrant. Each whole share purchase warrant will
entitle the holder to purchase one common share at a price of $0.30 for 18
months following the closing.


The net proceeds from the issuance of the common shares will be used by Maritime
to finance the exploration and development activities, including studies
examining the potential to re-open the Hammerdown mine, at the Green Bay
property in Newfoundland, and for general corporate purposes. Proceeds from the
issuance of the Flow-through shares will be used to incur exploration expenses,
including step-out and infill drilling at the Hammerdown project before Dec. 31,
2013. Maritime will renounce the qualifying expenditures to subscribers of the
Flow-through shares for the fiscal year ended Dec. 31, 2012.


Finder's fees of 6% in cash or Units together with 6% Broker Warrants ("Broker
Warrants"), as applicable under securities laws, may be payable on a portion of
the financing to finders who assist in the placement. The Broker Warrants will
have the same terms as the warrants attached to the Units. The private placement
is subject to regulatory approval.


About Maritime Resource Corp:

Maritime's Green Bay property consists of the Hammerdown gold deposit and the
Orion gold deposit. The deposits are separated by a 1.5 km distance. The
Hammerdown gold deposit was successfully mined by Richmont Mines between 2000
and 2004; the rich gold bearing veins averaging 16.5 g/t Au, being cut off by a
sharp fault between 200 and 250 metres depth. Maritime is currently updating the
potential for remaining resources and anticipates drilling in 2012 to expand
this potential at Hammerdown. The Orion gold deposit contains an inferred
resource of 119,000 ounces of gold in a 710,000 tonne deposit grading 5.2 g/t
Au. The deposit consists of two main vein systems, both of which are open along
strike, up and down plunge.


Maritime's shares trade on the TSX Venture Exchange under the symbol "MAE". For
additional information, please visit the Company's website at
www.maritimeresourcescorp.com.


On behalf of the Board of Directors,

Eric Norton, President & CEO

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.

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