Thundermin Resources Inc.
TSX : THR

Thundermin Resources Inc.

January 02, 2007 13:16 ET

Thundermin Raises $350,000 in Private Placements

TORONTO, ONTARIO--(CCNMatthews - Jan. 2, 2007) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) is pleased to announce that it has raised $300,000 (the "Offering") by way of a non-brokered private placement with MineralFields Group ("MineralFields"). The Offering consists of 3,000,000 units ("Units") at a price of $0.10 per Unit. Each Unit consists of one flow-through common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase an additional common share at a price of $0.15 per share for a period of 18 months. In the event that Thundermin's shares trade at a price of $0.30 or more over a period of at least 20 consecutive trading days, Thundermin will have the right to accelerate the exercise of the warrants to 30 days by providing written notice to the warrant holder.

In addition, Thundermin raised $50,000 by way of a private placement with an accredited investor (the "Investor"). The Investor received 500,000 Units at a price of $0.10 per Unit. Each Unit consists of one flow-through common share and one half of one common share purchase warrant. Each whole common share purchase warrant will entitle the Investor to purchase an additional common share for $0.15 per share for a period of 18 months. The warrants issued to the Investor are also subject to the early call provision as described above.

The net proceeds from the financings will be used to fund Thundermin's exploration activities in Canada. Thundermin will incur and renounce qualifying Canadian Exploration Expenditures under the Income Tax Act (Canada) to MineralFields and the Investor in an amount equal to the subscription price of such shares.

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Information about the MineralFields Group is available at www.mineralfields.com.

This document may contain or refer to forward-looking information based on current expectations. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

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