Thundermin Resources Inc.

Thundermin Resources Inc.

November 18, 2009 09:59 ET

Thundermin Raises $500,000 in Private Placement

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2009) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) is pleased to announce that it has raised $500,000 (the "Offering") by way of a non-brokered private placement with accredited investors. The Offering consists of 2,777,778 units ("Units") at a price of $0.18 per Unit. Each Unit consists of one flow-through common share and one-half of one non-transferable common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase an additional common share at a price of $0.25 per share on or before May 18, 2011. In the event that Thundermin's shares trade at a weighted average price of $0.50 or more per share over a period of at least 20 consecutive trading days, Thundermin will have the right, upon giving notice to the warrant holders, to accelerate the expiry date of the warrants to the date that is 30 days from the date that notice was provided.

The net proceeds from the financing will be used to fund Thundermin's exploration activities in Canada, in particular additional diamond drilling on the Little Deer Copper Deposit ("Deposit") which is located in north-central Newfoundland. Thundermin and 50% joint venture partner, Cornerstone Resources Inc., recently announced that Micon International Limited ("Micon") had prepared an initial NI 43-101 resource estimate for the Deposit in which Micon estimated that the Deposit contains Indicated Resources of 1,087,000 tonnes at an average grade of 2.9% copper and Inferred Resources of 1,950,000 tonnes at an average grade of 2.3% copper. Micon also determined that the Deposit remains open to the east, west and at depth and that the potential for the discovery of additional mineral resources is believed to be high (see Thundermin News Release dated July 7, 2009).

Thundermin will incur and renounce qualifying Canadian Exploration Expenditures under the Income Tax Act (Canada) to the accredited investors in an amount equal to the subscription price of the subscribed for shares.

About Thundermin

Thundermin is a Canadian-based mineral exploration company focused on the exploration for and the discovery of economically viable base metal and gold deposits in Canada. Thundermin has an interest in, or the right to earn an interest in 11 base metal and gold properties in Canada. Thundermin also has royalty interests in a further 28 base metal and gold properties located in Manitoba, Saskatchewan, British Columbia and Quebec, the most significant being a 2.5% net smelter return royalty in the Pelletier Lake gold deposit where Alexis Minerals Corporation is currently taking a 40,000 tonne bulk sample that could generate approximately $250,000 in royalty payments to Thundermin in the first quarter of 2010. Thundermin also has various shareholdings in thirteen other junior resource companies that are actively exploring for base metals, gold, chromium, vanadium and diamonds in Canada.

Forward-Looking Statements

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, except as required by applicable law.

For further information on Thundermin Resources Inc. please visit Thundermin's website at or the SEDAR website at

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