Precious Metals and Mining Trust (TSX: MMP.UN) provides details regarding the 2010 annual redemption

Sentry Select Capital Inc ("Sentry"), the manager of Precious Metals and Mining
Trust (the "Trust"), announces that unitholders who redeemed their units of the
Trust (the "Units") effective September 30, 2010, will receive the redemption
amount determined in accordance with clause (ii) of the definition of Net
Realized Proceeds Per Unit set out in the Trust's Amended and Restated
Declaration of Trust, dated March 11, 2009 (the "Declaration of Trust"), as
Sentry determined that it was not practicable to make the dispositions described
in clause (i) of that definition. As a result, unitholders who tendered Units
will receive the Redeeming Percentage of the Trust's Net Asset Value on the
Redemption Date, less any applicable costs that Sentry believes would have
resulted from the dispositions described in clause (i).


Precious Metals and Mining Trust

The Trust is a closed-end investment trust that aims to provide unitholders with
long-term capital appreciation and monthly cash distributions. The Trust invests
in an actively managed portfolio consisting primarily of equity securities of
mining issuers listed on a North American stock exchange. The Units trade on the
Toronto Stock Exchange under the symbol MMP.UN.


Sentry Investments

Sentry Investments is a Canadian asset management company that offers a diverse
range of investment products including mutual funds, hedge funds, flow-through
limited partnerships, closed-end trusts and other alternative investments,
covering a variety of domestic and global mandates.


Any capitalized terms used but not defined herein are as defined in the
Declaration of Trust.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect," "intend," "will" and similar expressions to the extent they relate to
Sentry and/or the Trust. The forward-looking statements are not historical facts
but reflect Sentry's current expectations regarding future results or events
including, but not limited to, the intended method of paying the redemption
amounts owed to unitholders of the Trust. These forward-looking statements are
subject to a number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations. Although Sentry and/or
the Trust believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not guarantees of
future performance and, accordingly, readers are cautioned not to place undue
reliance on such statements due to the inherent uncertainty therein. Sentry
and/or the Trust undertakes no obligation to update publicly or otherwise revise
any forward-looking statement or information whether as a result of new
information, future events or other such factors which affect this information,
except as required by law. For a complete disclosure record of the Trust, please
visit the Trust's profile at www.sedar.com.




Sentry Select Capital Inc.              
The Exchange Tower                      
130 King Street West                    
Suite 2850, P.O. Box 104                
Toronto, Ontario M5X 1A4                
Telephone: (416) 861-8729               
Fax: (416) 364-5615

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