March 02, 2007 17:26 ET

Normabec Closes 3.6 Million Unit Non-Brokered Private Placement Financing

ST-BRUNO, QUEBEC--(CCNMatthews - March 2, 2007) - Normabec Mining Resources Ltd. (TSX VENTURE:NMB) ("Normabec") has closed a non-brokered private placement for a total of 3,595,803 units at a price of $0.33 per unit for gross proceeds of $1,186,615. Each unit consists of one common share and one half of one common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at a price of $0.55 per common share until August 22, 2008.

In accordance with securities legislation, the shares and warrants issued under the private placement are subject to a four month hold period expiring on June 23, 2007. Following the expiry of this hold period, should the trading price of the common shares of Normabec equal or exceed $0.75 for a period of ten consecutive trading days, Normabec shall be entitled to notify the warrant holders of its intention to accelerate the expiration date of the warrants. Upon reception of such notification, warrant holders shall have 15 days to exercise their warrants, after which time the warrants will expire.

In connection with the private placement, Normabec paid a commission equal to $69,063.04, or 5.8 percent of the gross proceeds raised in the placement. A compensation warrant was also paid for the purchase of up to 239,179 common shares of Normabec, representing 6.7 percent of the number of common shares sold in the placement. The compensation warrant is exercisable at a price of $0.33 per share for a period of 18 months from the date of issuance of the warrants.

The net proceeds of this private placement will be used for the Real de Catorce Property in Mexico and for working capital.

The TSX Venture Exchange (TSX) has neither approved nor disapproved the contents of this press release.

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