Radisson Mining Resources Inc.
TSX VENTURE : RDS

Radisson Mining Resources Inc.

August 12, 2005 08:00 ET

Radisson Mining Resources Inc.: Placement of $164,000

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Aug. 12, 2005) - Radisson Mining Resources Inc. (TSX VENTURE:RDS) announces that it has just completed a private placement of $164,000. (This placement includes $10,000 in consideration of flow-through units.)



Details of the placement:

a) Issuing of 700,000 Class A shares of Radisson at a price of 0.22
cents per share in consideration of the amount of $154,000 and
700,000 stock warrants. Each stock warrant entitles the subscriber
to subscribe one Class A share of Radisson at a cost of 0.29 cents
for a period of 24 months from the date of closing of the
placement.

b) Issuing of 33,333 flow-through units in consideration of the
amount of $10,000. Each flow-through unit was offered at a price
of 0.30 cents per unit and consists of one Class A share of the
Company and one stock warrant. Each stock warrant entitles its
holder to subscribe one Class A share of the Company at a price of
0.39 cents for a period of 24 months from the date of closing of
the placement.


The proceeds will support exploration work on the O'Brien and/or Douay properties and part will also be paid into the general funds of the Company.

Radisson is a Quebec-based mining exploration company. It is the sole owner or has interests in eleven gold-bearing properties, with some containing base metals. The properties are located in northwestern Quebec. The most advanced and also the company's principal asset is the former O'Brien Mine property in Cadillac which produced (1926-1956) 587,521 ounces of gold from a production of 1.3 million short tons at an average grade of 0.467 ounces of gold/short ton. On this same property, the company also owns a gold mill rated at 200 tons per day.

The TSX Market is not responsible for the truth or accuracy of this press release.

Contact Information

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