Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

July 09, 2010 08:00 ET

Radisson Mining Announces Closing of $600,000 Placement of Flow-Through Shares

ROUYN-NORANDA, QUEBEC--(Marketwire - July 9, 2010) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) is pleased to announce it completed on July 8, 2010 a $600,000 private placement through Industrial Alliance Securities Inc. and MineralFields Group.

The placement consists of 6,000,000 common shares in the capital of the Corporation to be issued on a flow-through basis (the "Flow-Through Common Shares"), at a price of $0.10 (Canadian) per Flow-Through Common Share for aggregate proceeds of $600,000.

100% of the gross proceeds of the Flow-Through Shares sold under the Flow-Through Offering will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) on Radisson's O'Brien/Kewagama property.

In connection with the Flow-Through Offering, the Agents will receive compensation comprised (in the aggregate) of: (i) a 9% cash commission of the total amount of subscription funds placed by the Agents, and (ii) broker warrants (the "Broker Warrants") equalling 8% of the total number of Flow-Through Common Shares placed pursuant to the Flow-Through Offering, with each Broker Warrant being exercisable into one common share in the capital of the Corporation as presently constituted (a "Broker Share") at a price of $0.10 per share for a period of 18 months from the closing date.


Radisson is a Quebec-based exploration company with an interest in seven properties in northwestern Quebec and one property in northwestern Ontario. The main asset of Radisson, the O'Brien /Kewagama Property (the Property) is located along the Cadillac Break and was previously the site of the past producing O'Brien mine, the highest grade gold producer of the Abitibi greenstone belt (reported production 1,302,000 tons @ 0.448 ounces per ton, 1932-1955).

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

These resources, all outlined above the 2,000 foot level and located some 2,500 feet east of the old O'Brien mine workings, are high grade structures similar in nature to the O'Brien gold mine.

Management believes that in addition to the above structures and the excellent depth potential in this area, (the Agnico Eagle LAPA gold mine to the east along the Cadillac Break is located at 4,000 feet, with the Agnico Eagle Laronde mine, located 4 km to the northwest having now surpassed 10,000 feet in depth), there exists potential on the Property for high tonnage, lower grade deposits of the porphyry types, similar in nature to the Cadillac Break porphyries of the Osisko and Goldex types.


MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

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

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