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Uranium North Announces Flow-Through Financing
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VANCOUVER, August 7, 2007 - Uranium North Resources Corp. (TSX-V: UNR)
announces that it intends to complete a non-brokered private placement
financing of up to 3,750,000 flow-through shares at a price of $0.80
per share.
A cash finder's fee of 5% of the gross proceeds may be payable on a
portion of the placement. Finders may also receive warrants (the
"Finders Warrants") entitling them to purchase that number of non
flow-through common shares which is equal to 7% of the number of
Flow-Through Shares sold by the Finders. The Finders Warrants will
expire eighteen months after the closing of the Offering. The exercise
price for the Finders Warrants will be $0.80 per common share.
The Flow-Through Shares and the Finders Warrants will be subject to a
hold period of four months plus one day from the closing of the
Offering.
The proceeds of the financing will be used for the development of the
Company's projects in Canada.
This private placement is subject to regulatory approval.
About Uranium North Resources
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
Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: (604) 484-2212
Facsimile: (604) 484-7143
Website: www.uraniumnorthresources.com
Email: info@uraniumnorthresources.com
Renmark Financial Communications Inc.
Jason Roy: jroy@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. 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.
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Copyright (c) 2007 URANIUM NORTH RESOURCES CORP,. (UNR) All rights
reserved. For more information visit our website at
http://www.uraniumnorthresources.com/ or send
mailto:info@uraniumnorthresources.com
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