Windarra Minerals Ltd.
TSX VENTURE : WRA

Windarra Minerals Ltd.

June 06, 2007 09:15 ET

Windarra ("WRA") Closes Private Placement; Drilling Begins on Pukaskwa Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2007) - Windarra Minerals (the "Company") (TSX VENTURE:WRA) has completed the private placement previously announced on May 14, 2007. The Company has raised $637,000 through the sale of 288,000 flow-through shares at a price of $0.25 per share and 2,825,000 non flow-through units at a price of $0.20 per unit. Each non flow-through unit consists of one common share and one common share purchase warrant entitling the holder to purchase one additional common share at a price of $0.25 for a period of two years from closing. The securities issued pursuant to the private placement are subject to a hold period expiring on October 6, 2007. Proceeds of the placement will be applied to a drill program about to begin on the Company's Pukaskwa property, located near Wawa, Ontario, as well as to general working capital.

The Company is also pleased to announce that it has satisfied all of the requirements of the Pukaskwa Property Agreement and has thereby exercised the option and earned a 100% interest in the Property from Messina Minerals Inc.

The Company has contracted Cartwright Drilling Inc. to undertake a diamond drill program of up to 1200 metres at the Pukaskwa Property. The primary focus will be on the most attractive targets, the Middle Finger Lake and Bonanza-Grade zones, neither of which has been drill-tested. Both zones boast excellent results from trench-, grab-, and soil-sampling, and these have been reported previously (see News Releases dated December 19, 2005, April 5, 2006, and July 25, 2006).

The Pukaskwa property is located 50 kilometres west of Wawa, Ontario, less than 20 km northwest of Wesdome's Eagle River Mine, which has produced approximately 600,000 ounces gold since 1995. The property, which consists of a belt of 55 contiguous unpatented mining claims spanning a length of over 13 km, also lies 20 km southwest of the formerly-producing Magnacon mine, in which Windarra holds an interest. Like the Pukaskwa property, the Magnacon properties lie along the highly prospective Mishibishu gold belt.

On behalf of the Board of Windarra Minerals Ltd.

John Pallot, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information