Caribou Copper Resources Ltd.

Caribou Copper Resources Ltd.

July 15, 2010 09:15 ET

Caribou Copper Resources Ltd. Announces a Non-Brokered Private Placement

OTTAWA, ONTARIO--(Marketwire - July 15, 2010) - Caribou Copper Resources Ltd. (TSX VENTURE:CKR), (the "Company") is pleased to announce a non-brokered private placement, subject to regulatory approval, of up to 10,000,000 units (the "Units") at a price of $0.10 per Unit.

Each Unit will consist of one (1) common share and one-half (1/2) non‐transferable share purchase warrant. Each full warrant will entitle the holder, on exercise, to purchase one common share for a twenty-four (24) month term at an exercise price of $0.15 within the first twelve months and $0.20 within the next twelve months from the date of closing. If the daily weighted average trading price of the common shares exceeds $0.45 per share for at least 30 consecutive trading days, the Company may give notice to accelerate the expiry date in which case the expiry date will be 30 days from the date of notice.

Commissions of up to 8% payable in cash and/or shares and 8% broker warrants will be paid in accordance with the policies of the TSX Venture Exchange. Each broker warrant will entitle the holder for a twenty four (24) month term, to purchase one share for $0.15 in the first twelve months and $0.20 in the second twelve months from the Closing.

About the Company:

Caribou Copper Resources Ltd. is a copper exploration and development company with 97 mining claims covering 16 square miles in Alaska. Its 10,240 acre Caribou Dome property is located in the Talkeetna mining district in south-central Alaska in the pass between Windy Creek and the south fork of Pass Creek in the Clearwater Mountains. By air, it is about 160 miles northeast of Anchorage, Alaska or about 110 miles south of Fairbanks, Alaska.


"Pierre Vella-Zarb"

President, CEO and Director

Neither 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