Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

January 02, 2008 13:20 ET

Radisson Mining Announces Closing of Placement of Flow-Through Shares

ROUYN-NORANDA, QUEBEC--(Marketwire - Jan. 2, 2008) - Radisson Mining Resources (TSX VENTURE:RDS) is pleased to confirm its completion of the non-brokered private placement, announced on December 21, 2007, of an aggregate of 2,500,000 class A shares (the "Shares") in the capital of the Company with each Share to be issued as a "flow-through share" as defined in the Income Tax Act (Canada) (a "Flow-Through Share") at $0.40 (Canadian) per Flow-Through Share for aggregate gross proceeds of up to CDN$1,000,000 (the "Flow-Through Offering").

100% of the gross proceeds of the Flow-Through Shares sold under the Flow-Through Offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) (the "Tax Act") which qualify as "flow-through mining expenditures" for purposes of the Tax Act related to the Company's exploration projects in Ontario and Quebec, Canada. The Company will renounce such Canadian exploration expenses with an effective date of no later than December 31, 2007.

Subscription agreements have been received for the full issue of 2,500,000 Shares of which 50% has been subscribed by two directors of the Company and the balance of the issue has been subscribed by non-insiders of the Company. The two directors who participated in this financing are Dale M. Hendrick, Chairman of the Board, who subscribed for 500,000 Shares, i.e. 20% of the placement, and Kenneth G. Murton, President and CEO of the Company, who subscribed for 750,000 Shares, i.e. 30% of the placement. The completion of this private placement will not result in any change in the control of the Company.

ABOUT RADISSON MINING: Radisson is a Quebec-based exploration company, with an office in Toronto, Ontario, specializing in the discovery of gold, molybdenum and base metal deposits with an interest in thirteen properties in northwestern Quebec and four properties in northwestern Ontario. The main asset of Radisson, the O'Brien / Kewagama property, contains the former O'Brien Mine, the highest grade and the most important gold producer in the Cadillac Mining Camp when it was producing from the early 1930s to the mid 1950s. Radisson now has established a new zone, the 36 East Zone, 2500' east of the old producing zone of the O'Brien Mine, with comparable high grades of gold. The Company has just commenced an advanced exploration program on this property.

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

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