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June 06, 2008 Uranium North Completes First Tranche Of Flow-Through Financing
VANCOUVER, June 6, 2008 -- Uranium North Resources Corp. (TSX-V: UNR) reports that a portion of the non-brokered flow-through private placement announced on May 7, 2008 has closed for total proceeds of $3,686,109.30. A total of 12,287,031 flow-through shares at a purchase price of $0.30 per share have been issued.
Finders' fees of 5% cash aggregating $173,405.97 and 7% finders' warrants aggregating 739,228 warrants were paid in connection with the financing. The finders' warrants are exercisable at $0.45 until June 6, 2009.
All the securities issued hereunder are subject to a four month hold period and may not be traded until October 7, 2008.
About Uranium North Resources
Uranium North is a junior mineral exploration company focused on uranium discovery in Canada. The Company will focus its first drill program on three project areas in Nunavut; Amer Lake, Kam and Hawk in the Thelon Basin Area. Ground surveys will continue on the Carswell project in the Athabasca Basin to confirm drill targets for the 2009 drill program.
ON BEHALF OF THE BOARD OF DIRECTORS
For additional information please contact:
Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: (604) 484-7120
Facsimile: (604) 484-7143
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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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