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TRIBUTE OPTIONS KING BAY PROPERTY

May 16, 2003

Tribute Minerals Inc. ("Tribute" or the "Company") (TSXVE- TBM) announces that it has entered into an agreement with John L. Wahl Consulting Ltd. to option its King Bay Property. The optionee can earn a 100% working interest in the Property by expending $200,000 on exploration over a three-year period. The Company will retain a 1½% net smelter returns royalty, 1% of which may be purchased, by the optionee, for $1,000,000.

The Company currently has 29,990,243 common shares issued and outstanding.

For further information, please contact Ian Brodie-Brown, President and C.E.O.

FOR FURTHER INFORMATION PLEASE CONTACT:
Tribute Minerals Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
(416) 601-1450 (FAX)
info@tributeminerals.com
www.tributeminerals.com

The TSX Venture Exchange has neither approved nor disapproved of the contents of this
release.

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