Uranium North Resources Corp.

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Feb 01, 2010: Uranium North Identifies Gold Potential on KAM Pro... (more...)

Jan 12, 2010: Uranium North Identifies 24.62 g/t Gold on its Tas... (more...)

Nov 25, 2009: Uranium North Announces Option Grants (more...)

Nov 18, 2009: Uranium North Featured on CEO Clips on the Biograp... (more...)

Sep 24, 2009: Uranium North Files NI 43-101 Report on Amer Lake... (more...)

Aug 06, 2009: Uranium North Outlines 19.3 Million Pound U3O8 Inf... (more...)

Jun 23, 2009: Uranium North Completes Flow-Through Financing (more...)

Jun 10, 2009: Uranium North Identifies High Priority Targets on ... (more...)

May 28, 2009: Uranium North Announces Financing (more...)

May 27, 2009: Uranium North Completes Phase 1 Drilling at Amer L... (more...)





 May 07, 2008
Uranium North Announces Financing

 News Release NR08-11

Not for dissemination in the United States or through U.S. newswires


VANCOUVER, May 7, 2008 - Uranium North Resources Corp. (TSX-V: UNR) announces that it intends to complete a non-brokered private placement to raise up to $4 million, through the sale of flow-through shares. The flow-through shares will comprise up to 13,333,333 shares at $0.30 per share (the "Flow-Through Shares"). The placement is to finance the upcoming exploration program on its 100 % owned Canadian projects.

A cash finder's fee of 5% of the gross proceeds may be payable on a portion of the placement. Finders may also receive warrants (the "Finders Warrants") entitling them to purchase that number of non flow-through common shares which is equal to 7% of the number of Flow-Through Shares sold by the Finders. The Finders Warrants will expire twelve months after the closing of the Offering. The exercise price for the Finders Warrants will be $0.45 per common share.

The program will consist of drilling on the Amer Lake, Kam and Hawk projects all located in Nunavut. Also, target confirmation through ground surveys will be the focus for the Carswell property in the Athabasca Basin in Saskatchewan.

Uranium North is confident in Nunavut's commitment to responsible mineral exploration and development. Uranium exploration is supported by Nunavut's 2003 Economic Development Strategy. Coupled with the commitment to responsible mineral exploration, is the reality that much of Nunavut is under-explored. Uranium North is poised to take full advantage of the targets on its Nunavut properties.

The Flow-Through Shares and the Finders Warrants will be subject to a hold period of four months plus one day from the closing of the Offering.

This private placement is subject to regulatory approval.

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 which is host to a historical resource (non 43-101 compliant) and two project areas, Kam and Hawk in the Southern 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

Mark Kolebaba
President & CEO

For additional information please contact:

Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: (604) 484-7120
Facsimile: (604) 484-7143
Website: www.uraniumnorth.com
Email: [email protected]

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
 
 

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