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March 14, 2008
News from
the desk of Ken Murton
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RADISSON
MINING ANNOUNCES CLOSING OF PRIVATE PLACEMENT
• This morning, Radisson Mining Resources
announced that, subject to approval of the TSX Venture Exchange, it has
completed its non-brokered private placement, announced on March 10, 2008, of
an aggregate of 2,000,000 units (the "Units") in the capital of the
Company at $0.26 per Unit for gross proceeds of $520,000. Each Unit consists of
one Radisson Class A common share plus one-half of one Class A common share
purchase warrant (a "Warrant"). Each whole Warrant entitles the
holder to purchase one additional Radisson Class A common share at $0.32 at any
time during the 24 months following closing of the private placement.
Subscription agreements have been received for
the full issue of 2,000,000 Units of which 100% has been subscribed by
non-insiders of the Company. A commission of 8% was paid to an agent in respect
of this financing.
The proceeds of the Offering will be used to
fund general and administrative expenses of the Corporation.
• Radisson Mining is a Quebec-based
exploration company, with offices in Rouyn-Noranda, Quebec
and Toronto, Ontario, specializing in the discovery of
gold, molybdenum and base metal deposits. The Company has an interest in
thirteen properties in northwestern Quebec
and two properties in northwestern Ontario. The main asset of Radisson, the
O'Brien / Kewagama property, contains the former
O'Brien Mine, the highest grade and the most important gold producer in the
Cadillac Mining Camp when it was producing from the early 1930s to the mid
1950s. Radisson now has established a new zone, the 36 East
Zone, 2,500 ft.
east of the old producing zone of the O'Brien Mine, with comparable high grades
of gold. The Company is carrying on an advanced exploration program on this
property. In its 43-101 report, available on our website, Scott Wilson RPA
opined, "there is excellent potential to increase the Zone 36 East
resources above the 2,000 Level and to discover new resources further at depth
and along strike further to the east". Also in northwestern
Quebec, Radisson is embarked on an encouraging exploration program at its La Reine molybdenum/gold property and has entered into a JV on
its highly prospective Massicotte gold project in the
prolific Abitibi Greenstone Belt immediately east of one of Canada's largest
undeveloped gold resource projects, the Detour Lake Project of Detour Gold
Corporation.
We should be pleased to answer any questions
you may have with regard to our exploration and development plans.
Sincerely,
Ken Murton
President/CEO
Tel: 416-920-2748
kmurton@radissonmining.com
www.radissonmining.com
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