Sama Resources Inc.
TSX VENTURE : SME

Sama Resources Inc.

September 02, 2010 21:05 ET

Sama Resources Inc. Announces Additional CAN$1,000,000 Under Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 2, 2010) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Sama Resources Inc. (TSX VENTURE:SME) ("Sama" or the "Company") is pleased to announce that, further to its press release of August 25, 2010, it will sell an additional 2,500,000 units (the "Units") at a price of CAN$0.40 per Unit, for total gross proceeds of CAN$1,000,000 (the "Offering"). Macquarie Private Wealth Inc. ("Macquarie") will act as agent under the Offering. Each Unit is comprised of one common share of the Company (a "Share") and one-half of one non-transferable Share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one Share for a period of one year from the date of issuance at an exercise price of CAN$0.55.

As consideration to Macquarie, the Company will pay to Macquarie a cash commission equal to 8% of the CAN$1,000,000 gross proceeds and issue to Macquarie 200,000 options (the "Agent's Options"). Each Agent's Option will be exercisable to acquire one Share at $0.40 for a period of 24 months from the closing date.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The net proceeds of the Offering will be primarily used for the exploration and development of the Samapleu nickel/copper project in Côte d'Ivoire, West Africa, and for working capital purposes.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For contact information please visit Sama's web page at www.samaresources.com.

Forward-Looking Statements

This news release contains forward-looking statements. More particularly, this news release contains statements concerning the anticipated Offering and anticipated use of the net proceeds of the Offering. 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. The closing of the Offering could be delayed if Sama is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned. The Offering will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Offering will not be completely sold, completed within the anticipated time or at all. The specific intended use of the net proceeds of the Offering by Sama might change if the board of directors of Sama determines that it would be in the best interests of Sama to deploy the proceeds for some other purpose, and which may be subject to various risks including risks associated with international mining, commodity price fluctuations, political and economic changes, fluctuations in foreign currency, exploration and development, mining permits and licenses, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. 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 (www.sedar.com).

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.

Contact Information