Norwood Resources Ltd.
TSX VENTURE : NRS

Norwood Resources Ltd.

February 20, 2008 19:49 ET

Norwood Resources Ltd.-Financing Approved

VANCOUVER, BRITISH COLUMBA--(Marketwire - Feb. 20, 2008) - Norwood Resources Ltd. (the "Company") (TSX VENTURE:NRS) announces that it has received final acceptance from the TSX Venture Exchange and has closed the non-brokered private placement, originally announced February 15, 2008, consisting of 21,353,348 units at $0.50 per unit. Each unit consists of one common share and one share purchase warrant whereby each share purchase warrant will entitle the holder to acquire an additional share at $0.60 per share until February 20, 2009. The Company shall be entitled to accelerate the expiry date of the warrants by providing 30 days written notice to the holders of the warrants if the share price trades at $1.25 or more for 20 consecutive days after the expiry of the mandatory four (4) months hold period.

A Finders fee in the amount of $314,735.00 will be paid in respect of certain of the subscriptions in accordance with applicable stock exchange policies. Proceeds of the financing will be used to fund ongoing exploration and development work and for working capital.

ON BEHALF OF THE BOARD OF DIRECTORS OF NORWOOD RESOURCES LTD.

Raymond Cahill, President & CEO

WE SEEK SAFE HARBOUR

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgment, they are subject to a variety of risks and uncertainties that are beyond the Company's ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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