International KRL Resources Corp.
TSX VENTURE : IRK

International KRL Resources Corp.

December 18, 2006 13:04 ET

International KRL Resources Announces Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - International KRL Resources Corp. (the "Company") (TSX VENTURE:IRK) is pleased to announce a private placement consisting of up to 6,000,000 flow-through units ("FT Units") at a price of $0.265 per FT Unit for proceeds of $1,590,000. Each FT Unit consists of one common share in the capital of the Company and one-quarter of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable for 12 months at $0.365 per share. A portion of the FT Units shall be sold through the MineralFields Group.

The Company has agreed to pay a 4% finders fee, a 2% due diligence fee and issue share purchase warrants equal in number to 10% of the number of FT Units sold, which are exercisable for 12 months at $0.365 per share. The proceeds from the sale of the FT Units will be used to incur qualifying expenses on the Company's Canadian mineral properties.

International KRL Resources Corp. is a mineral exploration company engaged in the acquisition, exploration and advancement of Canadian mineral properties. The Company is currently exploring for uranium, copper, and gold in the Yukon Territory, Saskatchewan, Ontario and British Columbia. For more information on the properties and International KRL Resources Corp. please visit www.krl.net, www.sedar.com and www.sec.gov websites.

ON BEHALF OF THE BOARD

Seamus Young, President and CEO

Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • International KRL Resources Corp.
    Seamus Young
    President and CEO
    (604) 689-0299 x 223
    (604) 689-0288 (FAX)
    Email: syoung@krl.net
    Website: www.krl.net