Uranium North Resources Corp,. - News Releases - Uranium North Resource Corp. Announces $4 Million Private Placement - Mon May 20, 2013

Uranium North Resources Corp.

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	January 20, 2011 Uranium North Resource Corp. Announces $4 Million Private Placement
	Not for distribution to United States Newswire Services or for dissemination in the United States. Vancouver, BC, January 20, 2011 - Uranium North Resource Corp. ("Uranium North" or the "Company") (TSX-V: UNR) is pleased to announce that it has entered into an agreement with BayFront Capital Partners Ltd. (the "Agent") to act as agent for and on behalf of the Company, on a "best efforts" agency basis, without underwriter liability, in connection with a proposed private placement for aggregate gross proceeds of up to $4 million (the "Offering"). The Offering consists of the sale of flow-through shares ("Flow-Through Shares") at a price of $0.38 per Flow-Through Share and/or units ("Units") to be priced at $0.30 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share exercisable for a period of 18 months following the closing date at a price of $0.38 per share for the first 12 month of the term and $0.45 per share for the remainder of the term. The Company will grant the Agents an option (the "Agent's Option"), which will allow the Agent to sell an additional $3 million Flow-Through Shares and/or Units, pursuant to the Offering. The Agents' Option shall be exercisable, in whole or in part, on or prior to the closing date. The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital. The securities issued pursuant to the Offering will be subject to a 4 month and one day statutory hold period. In connection with the Offering, the Agent will receive a cash commission and broker warrants. The broker warrants will be exercisable into units with the same terms as the Units for a period of 18 months following the closing date. The offering is scheduled to close on or about February 8, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. For further information please contact: Uranium North Resource Corp Heather Kays Manager of Corporate Communications Tel: 604-719-3430 Fax: 604-484-7143 Email: info@uraniumnorth.com Web site: www.uraniumnorth.com CAUTIONARY STATEMENT: Neither the 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Uranium North Resource Corp., are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Uranium North Resource Corp.'s expectations are the risks detailed herein and from time to time in the filings made by Uranium North Resource Corp. with securities regulators.

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