Killdeer Minerals Inc.
TSX VENTURE : KMI

Killdeer Minerals Inc.

November 30, 2009 17:15 ET

Killdeer Minerals Announces Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2009) - Killdeer Minerals Inc. (TSX VENTURE:KMI) ("Killdeer" or the "Company") has agreed to complete a non-brokered private placement (the "Financing") to raise gross proceeds of up to $1,000,000.

Under the terms of the Financing, the Company will issue up to 2,500,000 non flow-through units (the "NFT Units") at a price of $0.20 per unit, and up to 2,000,000 flow-through units (the "FT Units") at a price of $0.25 per unit.

Each NFT Unit will consist of one common share (the "NFT Shares") and one-half of a share purchase warrant (the "NFT Warrants"). Each whole NFT Warrant will entitle the holder to purchase one additional common share at a price of $0.30 per share during the first year and thereafter at $0.40 per share during the second year from the closing date of the Financing (the "Closing Date").

Each FT Unit will consist of one flow-through common share (the "FT Shares") and one-half of a non flow-through share purchase warrant (the "FT Warrants"). Each whole FT Warrant will entitle the holder to purchase one additional non flow-through common share at an exercise price of $0.35 per share during the first year and thereafter at $0.45 per share during the second year from the Closing Date.

Further terms of the Financing provide that if the Company's shares close on the TSX Venture Exchange at any time four months after their date of issue for twenty consecutive trading days at a price of $0.50 per share or higher during the first year of the exercise period and at a price of $0.65 per share or higher during the second year of the exercise period, the Company may accelerate the expiry time to 30 calendar days from the date of express written notice delivered to the NFT and/or FT Warrant holders by way of registered mail, or thereafter the unexercised NFT and/or FT Warrants will be forfeited and terminated.

The Company may pay finder's fees to arm's length finders equal to 8% of the gross proceeds raised, which may be payable in cash or shares as negotiated with each finder in accordance with TSX Venture Exchange policy.

The funds raised from the Financing will be used for general working capital purposes and for exploration work on the Company's mineral properties in Canada.

The Company also wishes to announce that, further to its October 8, 2009 news release, the Company will not proceed with and will cancel the granting of 449,000 options at $0.20 per share with a 5 year term.

KILLDEER MINERALS INC.

Mike Elson, President & Chief Executive Officer

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 news release.

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