Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

January 04, 2005 12:14 ET

Radisson Mining Resources Inc.: Financing with Augen Capital Corp. for $175,000


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RADISSON MINING RESOURCES INC.

TSX VENTURE SYMBOL: RDS

JANUARY 4, 2005 - 12:14 ET

Radisson Mining Resources Inc.: Financing with Augen
Capital Corp. for $175,000

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Jan. 4, 2005) - Radisson Mining
Resources Inc. (TSX VENTURE:RDS) announces that it has completed a
private placement, for 546,875 flow-through units in consideration of
$175,000, with Augen Capital Corporation. Each flow-through unit was
offered at the price of $0.32 per unit and consists of one class A share
of the company and one stock warrant. Each stock warrant allows its
holder to subscribe for one class A share of the company at a price of
$0.45 per share over a period ending December 31, 2007.

The use of proceeds of this flow-through private placement will be to
carry out an early 2005 surface drilling program on the company's
O'Brien/Kewagama properties.

In the 2004 drilling program a significant intersection in hole KW-04-03
yielded assay results outlined in the following table.



---------------------------------------------------------------
Hole No. From (m) To (m) Length(m) Assay Feet Oz/ton
g/tonne
---------------------------------------------------------------
KW04-03 376.17 376.51 0.3 10.89 1 0.32
439.77 440.91 1.14 2.43 3.74 0.07
515.4 523.57 8.17 5.45 26.8 0.16
incl. 515.4 516 0.6 49.94 2 1.46
---------------------------------------------------------------


This target is located between the 36 E zones and Kewagama shaft and
above the 2000 foot level. The program's ultimate goal is to define a
sufficient resource to warrant an underground bulk sample.

Radisson is a mining exploration company based in Quebec, and is the
sole owner or has interests in eleven gold-bearing properties, with some
containing base metals. The properties are located in northwestern
Quebec. The most advanced, and its main asset, is the former O'Brien
Mine property in Cadillac that produced (1926-1956) 587,521 oz. of gold
from a production of 1.3 metric tons at an average grade of 0.467 oz. of
gold / ton. The company also owns a gold concentrator with a capacity of
200 metric tons per day on this property.

Radisson, along with Agnico Eagle, Globex, Queenston and Cambior, are
actively redefining the gold potential of the Cadillac Camp, Quebec. In
particular, recent discoveries in this historic camp have been very
encouraging indicating the emergence of new and significant gold
production for the area.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Radisson Mining Resources Inc.
    Dale M. Hendrick, P.Eng.
    Director
    (416) 955-8630
    or
    Radisson Mining Resources Inc.
    Donald Lacasse, P.Eng.
    President and Chief Executive Officer
    (819) 797-0606
    The TSX Venture Exchange is not responsible for the truth or accuracy of
    this press release.