Makena Resources Inc.
TSX VENTURE : MKN

October 30, 2013 03:01 ET

Makena Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 30, 2013) - Makena Resources Inc. ("MKN", "Makena" or the "Company") (TSX VENTURE:MKN) has closed the first tranche of a non-brokered private placement consisting of 5,091,667 units at $0.12 per unit for gross proceeds of $611,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at $0.18 per share for a period of five years. Finders' fees of $29,040 and 242,000 B warrants were paid in connection with the first tranche of this private placement. Each B warrant is non-transferable and exercisable into one common share at $0.18 for five years from closing. The units and the B warrants in this private placement will have a hold period that expires on February 25, 2014.

Makena will commence the closing process of the final tranche of this private placement by the end of this week. If you have any questions regarding this financing please call the Company directly.

Recently, Makena acquired three uranium claim blocks totalling 6,687 hectares (16,524 acres), which are all located in the Athabasca Basin. The west block directly borders the recent discovery at the Patterson Lake South Prospect ("PLS") of Alpha Minerals Inc.'s and Fission Energy Corp.'s. The other two blocks are in the direct vicinity of the discovery (please refer to maps on the Company's website www.Makenaresourcesinc.com. Management is anticipating the start of operations on this new project in the coming weeks.

Negar Adam, President of Makena stated, "We are pleased to close the first tranche of the placement and will commencing the process to close the final tranche at the end of this week. This will enable Makena to initiate the work program on the Patterson Uranium Claims that borders Alpha's and Fission's PLS discovery."

Negar Adam, President, Director

Makena Resources Inc.

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 press release.

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