Crazy Horse Resources Inc.
TSX VENTURE : CZH

Crazy Horse Resources Inc.

January 28, 2011 12:51 ET

Crazy Horse Closes $10,000,000 Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 28, 2011) -

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Crazy Horse Resources Inc. (TSX VENTURE:CZH) (the "Company") announces that it has completed its brokered private placement announced January 10, 2011 and has issued 8,000,000 common shares (the "Shares"), at a price of $1.25 per Share, for aggregate gross proceeds of $10,000,000 (the "Offering").

The Offering was over-subscribed; with net proceeds to be used to further develop the Company's Taysan Copper-Gold Porphyry Project in the Philippines. The Company is now well capitalized to commence a pre-feasibility study on the Taysan Project based on the results of a recently completed confirmatory drill program and a soon to be completed scoping study.

The Company engaged NCP Northland Capital Partners Inc. (the "Agent") to act as its agent in connection with the Offering. The Company paid commissions of up to 7% of the gross proceeds of the Offering, and issued compensation options to the Agent, members of the selling group and certain finders to acquire up to 560,000 common shares of the Company at a price of $1.25 per share until January 28, 2012.

The Shares and any common shares of the Company to be issued upon exercise of the compensation options are subject to a four-month hold period expiring May 29, 2011. As a result of the completion of the Offering, the Company now has 49,359,123 common shares issued and outstanding.

ON BEHALF OF THE BOARD

Johan Raadsma, President, CEO and Secretary

This press release includes "forward-looking statements" including statements relating to the use of the offering proceeds, completion of a scoping study and preparation of a pre-feasibility study that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

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 news release.

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