Radisson Mining Resources Inc.
TSX VENTURE : RDS

Radisson Mining Resources Inc.

September 11, 2007 08:00 ET

Radisson Mining Completes Private Placement and Retains the IR/Marketing Services of Michael Baybak and Company, Inc.

ROUYN-NORANDA, QUEBEC--(Marketwire - Sept. 11, 2007) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) ("Radisson" or the "Company") reported today that it has completed a private placement, on terms previously announced as pending, in the amount of $1,500,000. A total of 3,055,556 flow-through Class A shares were issued at a price of $0.36 per share for proceeds of $1,100,000 and a total of 1,333,333 Class A shares, with no tax advantage, were issued at $0.30 per share for proceeds of $400,000. These shares have been placed with three investors by Desjardins Securities, Montreal. A commission of 8% of the proceeds was paid in this regard. No warrants were issued in connection with this financing.

Radisson also is pleased to announce that it has retained the Los Angeles area firm of Michael Baybak and Company, Inc. ("MBC") to conduct media awareness and investor relations programs on behalf of the Company. Headed by Mr. Michael Baybak, MBC is a long-term media-relations specialist in the natural resource and gold exploration sectors.

The Company will pay MBC a monthly fee of US$7,000 for a one-year term, subject to cancellation at any time after the first six months This agreement may be renewed on mutually agreeable terms. In addition to the monthly fee, Radisson will grant MBC two-year share purchase options, subject to approval of the TSX Venture Exchange, on a total of 656,876 Class A shares of the Company at an exercise price of $0.33 per share, such options to be vested over a 12 month period.

Use of Proceeds: As reported in the Company's news release of August 23, 2007, net proceeds of the financing just completed will be applied primarily to commencement of an advanced exploration program on Radisson's O'Brien / Kewagama property, located in Cadillac, Quebec, immediately west of the Wood / Pandora property of Queenston-Globex and 6 km west of Agnico-Eagle Mines' Lapa mine.

Radisson's O'Brien Mine, when in production from the early 1930s to the mid 1950s, was the highest grade gold producer in the Cadillac Mining Camp. Based mainly on the exploration work of Radisson, and as reported in a 43-101 report, dated May 9, 2007, prepared by Scott Wilson Roscoe Postle Associates Inc. ("SWRPA Report"), the 36 East Zone, located 2100 ft. east of the former main producing zone of the O'Brien Mine, contains gold grades comparable to the average grade of 0.448 ounces of gold/ton of the original O'Brien Mine's production. The present Indicated Resources for the 36 East Zone, according to the SWRPA Report, are 270,000 tons at a grade of 0.56 ounces of gold per ton, uncut, and 0.36 ounces of gold per ton based on a 0.17 ounces/ton gold cut-off grade. Additional resources are identified in the Inferred category.

The SWRPA Report concludes, "There is excellent potential to increase the Zone 36 East resources above the 2,000 Level and to discover new resources further at depth and along strike further to the east". (Please see the 22 minute film "Return of the Old O'Brien Mine" on the Company's website www.radissonmining.com.)

Following the direction of the SWRPA Report, and based on the Company's internal planning, net proceeds of the financing announced herein, will be applied primarily to commencement of an advanced exploration program on the O'Brien / Kewagama project. This will entail surface drilling on geological targets on the 36 East Zone and on other targets, identified by airborne geophysics and ground induced polarization, east of this zone toward Radisson's Kewagama Mine property located immediately west of the Queenston-Globex joint venture.

This exploration program will be under the direction of Radisson's highly experienced Abitibi exploration team of Dale Hendrick P.Eng., Chairman of the Board and Technical adviser to the Company, Paul Cregheur, Director of Radisson and Mining Project Consultant, and Raynald Vincent, P.Eng.(Quebec), consulting geologist to the Company. Mr. Vincent will manage and oversee the drill program in the field.

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

Contact Information