Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

March 22, 2010 20:39 ET

Macarthur Minerals Limited: Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 22, 2010) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Macarthur Minerals Limited (TSX VENTURE:MMS) ("the Company") -

The Company is pleased to announce that it has arranged a non-brokered private placement of up to 6,000,000 common shares at a price of $1.50 per share for total gross proceeds of up to $9,000,000.

The Company may pay commissions in respect of all or a portion of the private placement comprised of up to a 7% cash fee and up to a 7% share purchase warrant to qualified parties. Each such warrant will entitle the holder to acquire one common share at a price of $1.80 for a period of three years from closing of the private placement. Insiders may participate in over 25% of the private placement. The private placement is subject to approval by the TSX Venture Exchange.

Net proceeds from the private placement will be applied towards advancement of the Company's Lake Giles project and general working capital.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

Alan Phillips, President, Chairman & CEO

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.

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