JNR Resources Inc. News Release
Wednesday, September 01, 2010
JNR Announces Closing of Private Placement
Saskatoon, SK, September 1, 2010 - JNR Resources Inc. ("JNR") is pleased to announce the closing of its private placement totalling $400,095. These funds were raised through issuing by JNR a total of 2,353,500 units at a price of $0.17 per unit, each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share for a period of two years at a price of $0.25 in the first twelve months and at a price of $0.30 thereafter.
The shares issued pursuant to the Private Placement, and any common shares to be issued upon the exercise of the warrants, are subject to a hold period in Canada expiring December 28, 2010.
The funds raised by way of the private placement will be used for exploration programs on JNR's properties located in Saskatchewan and Newfoundland.
About JNR Resources Inc.
JNR Resources Inc. is a Canada-based junior uranium exploration company with mineral properties in the provinces of Saskatchewan and Newfoundland. JNR is led by a highly experienced management team with proven discovery success in uranium as well as precious and base metal exploration. The Company's primary focus is in the Athabasca Basin, recognized as the most prospective uranium-mining district in the world. JNR controls a 100% interest in six properties in the basin totalling 193,965 hectares and an additional eight properties totalling 146,232 hectares in which Denison Mines Corp. has the option to earn varying interests. JNR also holds a 50% interest in the 44,352-hectare South Fork uranium property located in the Cypress Hills area of southwestern Saskatchewan, with joint venture partners Titan Uranium Incorporated and Mega Uranium Ltd. In Newfoundland, JNR holds a 70% interest (Altius Mineral Corporation 30%) in the 6,450-hectare Rocky Brook uranium property and is also in a 50:50 alliance with Altius on its 102,575-hectare Topsails uranium property.
ON BEHALF OF THE BOARD
President & CEO
For further information contact JNR Resources at 306.382.2211 or 877.567.6463
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