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Uranium North Completes First Tranche Of Flow-Through Financing
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VANCOUVER, August 24, 2007 -- Uranium North Resources Corp. (TSX-V:
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
Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: (604) 484-2212
Facsimile: (604) 484-7143
Website: www.uraniumnorthresources.com
Email: info@uraniumnorthresources.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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