Radisson Mining Resources Inc.
TSX VENTURE : RDS

Radisson Mining Resources Inc.

March 20, 2006 10:30 ET

Radisson Announces a Private Placement of $500,000

ROUYN-NORANDA, QUEBEC--(CCNMatthews - March 20, 2006) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce its intent to proceed with a private placement with MineralFields Group of a maximum of 434,783 Units A at a price of $0.23 per Unit A for a total amount of $100,000 and of a maximum of 1,379,310 Units B at a price of $0.29 per unit B for a total amount of $400,000. Each Unit A will comprise one common share and one warrant, each warrant entitling its holder to subscribe one common share of the company at a price of $0.30 within a period of 24 months from the date of the issuance. Each Unit B will comprise one flow through common share and one warrant, each warrant entitling its holder to subscribe one common share of the company at a price of $0.40 per share within a period of 24 months from the date of issuance.

Limited Market Dealer Inc. will receive a finder's fee of 5% of the proceed of Unit A and Unit B plus agent's warrants A representing 10% of the subscribed Units A , each agent's warrant A entitling it to acquire one Unit A at a price of $0.23 per Unit A within 24 months following the closing date and agent's warrants B representing 10% of the subscribed Units B each agent's warrant B entitling it to acquire one Unit B at a price of $0.29 per Unit B within 24 months following the closing date.

Also Limited Market Dealer Inc. will receive a corporate finance work fee of 5% of the total proceed of Unit A and Unit B.

The common share and the warrant comprised in Unit A and Unit B and the underlying common share to the warrants, will be subject to a resale restriction for a period of four months and one day following the closing date.

The proceed of the offering of Unit A and Unit B after deduction of the agent's fees and issuance costs will be used for exploration work on the O'Brien/Kewagama properties of Radisson in North Western Quebec and its properties located in the Dryden area in North Western Ontario.

This private placement and the issuance of Unit A and Unit B are subject to the approval of the TSX Venture Exchange.

About Radisson

Radisson is a Quebec based mining exploration company focused on the discovery of gold, molybdenum and base metal deposits. It has interests in nine properties in North-Western Quebec and five properties in North-Western Ontario. The O'Brien and Kewagama properties are the core assets of Radisson with a gold resource of over 300,000 ounces of gold calculated prior to the entering into force of National Instrument 43-101. Surface and underground infrastructure are still in place on these properties as well as a 200 tons per day gold mill.

About MineralFields

MineralFields Group is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar limited partnerships to investors throughout the world. Information about MineralFields Group is available at www.mineralfields.com

The TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of this press release.

Contact Information

  • Radisson Mining Resources Inc.
    Donald Lacasse, P. Eng.
    President and Chief Executive Officer
    (819) 797-0606