Teslin River Resources Corp.
TSX VENTURE : TLR

Teslin River Resources Corp.

June 14, 2012 16:30 ET

Teslin River Announces $2.5 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Teslin River Resources Corp. (TSX VENTURE:TLR) ("Teslin" or the "Company") is pleased to announce its intent to complete a non-brokered private placement (the "Placement") totaling gross proceeds of $2,500,000 consisting of 40,000,000 units at a price of $0.05 per unit ("Unit") and 8,333,333 "flow through" shares ("FT Shares") at a price of $0.06 per FT Share. "Flow through" shares are issued within the meaning of the Income Tax Act (Canada).

Each Unit will consist of a common share of the Company and one half of one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.10 for a period of 18 months from the close of the transaction.

In the event that the closing price of Teslin's common shares on the TSX Venture Exchange is at least $0.15 for twenty consecutive trading days at any time after that date which is four months following the closing date of the placement, Teslin may reduce the remaining exercise period of the Warrants to 30 days from the date of the Company providing notice of the accelerated warrant term.

A finder's fee may be payable on some or all of the securities placed in the Placement. The proceeds from the sale of the FT Shares will be used for exploration for the Company's exploration and drilling program on the Frasergold project, which is located within the Quesnel Trough of British Columbia and the proceeds from the sale of the Units will be used for general working capital purposes and for exploration on the Company's Nevada properties. 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 and the securities regulatory authorities.

ON BEHALF OF TESLIN RIVER RESOURCES CORP.

John Icke, Executive Chairman and Interim President and CEO

For further information please visit www.teslin-river.com.

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

Neither 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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