Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

May 17, 2012 08:00 ET

Radisson Announces Changes to O'Brien Site Facilities and Granting of Stock Options

ROUYN-NORANDA, QUÉBEC--(Marketwire - May 17, 2012) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) today announced that it is dismantling some obsolete facilities at the former O'Brien mine site.

The site's infrastructure dates from the early 80s (over 30 years). The years have taken their toll to such an extent that some facilities are simply unsafe and refurbishing them would be very expensive.

An exhaustive study has determined that some of these buildings and equipment will not be used in the project to access Zone 36 via a decline.

Access will be via a 4.5 x 5 metre decline (15%) designed to reach the 350-, 500- and 750-foot levels. The planned length is currently in the order of 1,500 m.

The underground access will be used to evaluate and bulk sample Zone 36, explore for (via underground drilling) and discover any new gold zones, and carry out necessary mining and metallurgical feasibility studies.

Previous exploration by the Company on the project (Zone 36) resulted in the discovery of an indicated resource of 218,540 ounces of gold (based on an indicated resource of 270,000 tons at an uncut grade of 0.56 oz/ton Au and an inferred resource of 182,000 tons at an uncut grade of 0.37 oz/ton) as defined in the Scott Wilson RPA NI 43-101 report of May 2007.

The Company will keep the mill building, garage and core shack.

The proceeds for Radisson from the sale of equipment, including demolition, will be $200,000.

Radisson is also announcing that it is granting 400,000 stock options to three directors. This is a renewal of options expired on April 5, 2012. The exercise price of the new options has been set at $0.10; they take effect on May 17, 2012, and the term of the options is five years.

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

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