Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

April 21, 2010 10:12 ET

Macarthur Minerals Private Placement Fully Subscribed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2010) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MACARTHUR MINERALS LIMITED (TSX VENTURE:MMS) ("Macarthur" or "the Company") is pleased to announce that the private placement financing announced on March 22, 2010, has been fully subscribed and will close on final acceptance of the TSX Venture Exchange.

Each share was offered under the private placement at a price of $1.50 per share for total gross proceeds of $9,000,000. As previously announced, finders' fees are payable in connection with the placement.

Net proceeds from the private placement will be applied towards advancement of the Company's iron ore project in Western Australia and for general working capital.

Macarthur Minerals is an emerging junior iron ore exploration and early stage development company with significant mineral assets located in Western Australia.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

Alan Phillips, President, Chairman & CEO

Neither 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.

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