Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

August 25, 2010 17:27 ET

Sama Resources Closes Private Placement of CAN$3,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2010) - Sama Resources Inc. ("Sama") (TSX VENTURE:SME) is pleased to announce the closing of its previously announced brokered private placement (the "Private Placement") of 7,500,000 units ("Unit") at a price of CAN$0.40 per Unit, for total gross proceeds of CAN$3,000,000. Each Unit is comprised of one common share of Sama (a "Share") and one-half of one non-transferable share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional Share until August 25, 2011 at a price of CAN$0.55. Net proceeds from the Private Placement will be used for the exploration and development of the Samapleu nickel/copper project in Cote d'Ivoire, West Africa, and for working capital purposes.

In connection with the Private Placement, Sama paid to Macquarie Private Wealth Inc. and certain sub-agents (collectively, the "Agent") a cash fee of CAN$240,000, representing 8% of the gross proceeds raised from the sale of Units. In addition, the Agent received an option to purchase 600,000 Shares of Sama, representing 8% of the Shares placed, exercisable until August 25, 2012 at a price of CAN$0.40.

All securities issued or issuable under the Private Placement are subject to a four-month hold period expiring on December 26 2010.

Forward-Looking Statements

This news release contains forward-looking statements. More particularly, this news release contains statements concerning the Private Placement. Although Sama believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Sama can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect Sama's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

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 release.

Contact Information