Uranium North Resources Corp.
TSX VENTURE : UNR

Uranium North Resources Corp.

August 24, 2007 15:13 ET

Uranium North Completes First Tranche of Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2007) - Uranium North Resources Corp. (TSX VENTURE:UNR) reports that the non-brokered flow-through private placement announced on August 7, 2007 has closed for total proceeds of $2,000,000. A total of 2,500,000 flow-through shares at a purchase price of $0.80 per share have been issued.

Finders' fees of 5% cash and 7% warrants were paid to NovaDX Ventures Corp. in the amounts of $100,000 and 175,000 warrants respectively. The finders' warrants are exercisable at $0.80 until February 15, 2009.

All the securities issued hereunder are subject to a four month hold period and may not be traded until December 16, 2007.

Uranium North is a junior mineral exploration company focused on uranium opportunities in Canada. The Company holds 100% interest in three million acres of property located within the most prospective basins in Canada. Uranium North is focusing on five key projects, one of which hosts a historical resource (non NI 43-101 compliant).

ON BEHALF OF THE BOARD OF DIRECTORS

Mark Kolebaba, President & CEO

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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