Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

October 12, 2007 08:00 ET

Radisson Mining Grants Incentive Options and Issues Shares to Cancel Debt

ROUYN-NORANDA, QUEBEC--(Marketwire - Oct. 12, 2007) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) ("Radisson" or the "Company") is pleased to announce that it has granted stock options to certain of its directors to allow for the purchase of up to 1,000,000 Class A Shares of the Corporation pursuant to the Company's Stock Option Plan. The options, which vest over a period of two years, are exercisable at a price of $0.335 per share on or before October 10, 2010. Five percent of these options vest on the date of grant.

Radisson also confirms that it has entered into a debt settlement agreement with Dale M. Hendrick to issue 238,806 Class A Shares at $0.335 per share in settlement of debt obligations owed to Mr. Hendrick of $80,000. These obligations were incurred under a technical consulting arrangement with Mr. Hendrick. The closing price on October 10, 2007 for Radisson's Class A Shares on the TSX Venture Exchange was $0.28. The Closing is expected to be completed upon receipt of regulatory approval. Dale M. Hendrick is the Chairman of the Board of Directors of Radisson.

ABOUT RADISSON MINING: Radisson is a Quebec-based exploration company, with an office in Toronto, Ontario, specializing in the discovery of gold, molybdenum, nickel and base metal deposits, with an interest in twelve properties in northwestern Quebec and five properties in northwestern Ontario. The main asset of Radisson, the O'Brien Mine property, contains the former O'Brien Mine, the highest grade and the most important gold producer in the Cadillac Mining Camp in Quebec when it was producing from the early 1930s to the mid 1950s. Radisson now has established a new zone, the 36 East Zone, 3600' east of the old producing zone of the O'Brien Mine, with comparable high grades of gold. The Company plans additional exploration on this new zone including an underground bulk sample.

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

Contact Information