Sama Resources Inc.

Sama Resources Inc.

September 28, 2010 12:55 ET

Sama Resources Closes Additional Private Placement of CAN$1,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2010) -  Sama Resources Inc. ("Sama") (TSX VENTURE:SME) is pleased to announce the closing of the private placement of an additional 2,500,000 units (a "Unit"), as previously disclosed in its September 2, 2010 news release. The Units were issued at a price of CAN$0.40 per Unit, for total gross proceeds of CAN$1,000,000 (the "Private Placement"). Each Unit is comprised of one common share of Sama (a "Share") and one-half of one non-transferable share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional Share until September 27, 2011 at a price of CAN$0.55. Net proceeds from the Private Placement will be used for the exploration and development of the Samapleu nickel/copper project in Cote d'Ivoire, West Africa, and for working capital purposes.

In connection with the Private Placement, Sama paid to Macquarie Private Wealth Inc. and certain sub-agents (collectively, the "Agent") a cash fee of CAN$80,000, representing 8% of the gross proceeds raised from the sale of Units. In addition, the Agent received an option to purchase 200,000 Shares of Sama, representing 8% of the Shares placed, exercisable until September 27, 2012 at a price of CAN$0.40.

All securities issued or issuable under the Private Placement are subject to a four-month hold period expiring on January 28, 2011.

Forward-Looking Statements

This news release contains forward-looking statements. More particularly, this news release contains statements concerning the Private Placement. Although Sama believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Sama can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect Sama's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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