Radisson Mining Resources Inc.

Radisson Mining Resources Inc.

July 02, 2008 08:00 ET

Radisson Mining Extends Due Diligence Period Under Its Letter of Intent With Aurizon Mines

ROUYN-NORANDA, QUEBEC--(Marketwire - July 2, 2008) - On April 14, 2008, Radisson Mining Resources Inc. (TSX VENTURE:RDS) announced that it had entered into a Letter of Intent ("LOI") with Aurizon Mines Ltd. (TSX:ARZ)(AMEX:AZK) which would permit Aurizon to effect its due diligence over a period of 60 days on the O'Brien/Kewagama Property (the "Property"), a former high-grade gold producer held by Radisson located in the heart of the Abitibi Gold belt midway between Rouyn-Noranda and Val d'Or in northwestern Quebec. Subject to a satisfactory result of its due diligence and receipt of all necessary corporate and regulatory approvals, Aurizon was to receive an option to earn up to an undivided 50% right, title and interest in the Property.

Today, Radisson announced that it has agreed to extend the period of due diligence under its LOI with Aurizon. The due diligence period now will extend to the earlier of September 15, 2008 or receipt by Radisson of title on certain claims on the Property. Radisson pointed out that, at this preliminary stage, there is no binding agreement with Aurizon

Meanwhile, Aurizon has advised that during the extended due diligence period it intends to complete an updated data base of all previous drilling at the Property to define targets for the initial exploration program and to investigate fully the impact on Aurizon of legal and prevailing regulatory requirements and to complete a detailed risk reward analysis relating to the exploration program as contemplated by the LOI.

ABOUT AURIZON MINES: Aurizon Mines is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the American Stock Exchange under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.

ABOUT RADISSON MINING: Radisson Mining is a Quebec-based exploration company, with offices in Rouyn-Noranda, Quebec and Toronto, Ontario, specializing in the discovery of gold, molybdenum and base metal deposits. The Company has an interest in thirteen properties in northwestern Quebec and two properties in northwestern Ontario. The main asset of Radisson, the O'Brien / Kewagama property, contains the former O'Brien Mine, the highest grade and the most important gold producer in the Cadillac Mining Camp when it was producing from the early 1930s to the mid 1950s. Radisson now has established a new zone, the 36 East Zone, 2,500 ft. east of the old producing zone of the O'Brien Mine, with comparable high grades of gold. The Company has recently been carrying on an advanced exploration program on this property, but now has ceased this program as a result of signing the LOI with Aurizon Mines. In its 43-101 report, Scott Wilson RPA opined, "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". Radisson also has entered into a JV on its highly prospective Massicotte gold project in the prolific Abitibi Greenstone Belt also in northwestern Quebec.

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

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