March 23, 2006 11:45 ET

Ditem Explorations Inc.: Non-Brokered Private Placement

MONTREAL, QUEBEC--(CCNMatthews - March 23, 2006) - Ditem Explorations Inc. (TSX VENTURE:DIT) announces a non-brokered flow-through private placement of up to 5,778,000 Units at a price of $0.1125 per Unit, resulting in gross proceeds of $650,000 CDN. Each Unit shall be comprised of one common share of the Company and one full purchase warrant, entitling the holder to acquire one additional common share of the Company at a price of $0.15 for a period of two years from closing.

Up to half of the common shares issued pursuant to the Units shall be issued as flow-through common shares. All common shares issuable upon exercise of the Warrants shall be issued as non-flow through common shares.

The offering will be made to purchasers residing in the Provinces of British Columbia, Alberta, Ontario, and Quebec, in reliance upon applicable exemptions from registration and prospectus requirements. The closing of the private placement is expected to occur on or before April 2, 2006, and is subject to the receipt of all the required regulatory approvals, including the approval of the TSX Venture Exchange. All the securities issued pursuant to the offering shall be subject to a hold period of four months from the date of closing. A finders fee equal to 6% of the gross proceeds raised may be payable by the Corporation in connection with this offering.

The proceeds from the private placement will be used by Ditem for exploration purposes, primarily on its Beartooth Island Prospect in the Athabasca Basin of Saskatchewan, and for general working capital.

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

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