Mineral Deposits Limited

Mineral Deposits Limited

March 20, 2009 07:00 ET

Mineral Deposits Limited-Proposed Capital Raising

MELBOURNE, AUSTRALIA--(Marketwire - March 20, 2009) -


Mineral Deposits Limited (TSX:MDM)(ASX:MDL) today announced that it has entered into an agreement pursuant to which Toll Cross Securities Inc. and Cormark Securities Inc. will act as co-lead agents to complete a best efforts private placement financing to raise up to C$33.1 million. Pursuant to the engagement agreement, the offering will be comprised of 63,600,000 ordinary shares to be issued at a price of C$0.52 per share.

The closing of the sale of the ordinary shares is expected to occur on or about March 30, 2009 and is subject to receipt of all necessary regulatory approvals, including that of the Toronto Stock Exchange and the Australian Securities Exchange.

It is proposed that the proceeds of the placement, together with available credit lines, will be used to repay a US$35 million working capital facility provided by RMB Australia Holdings Limited and Macquarie Bank Limited.

US Disclaimer

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.

ABN 19 064 377 420

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