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Re: News Release - Wednesday, January 23, 2008
Uranium North Completes Second Tranche Financing
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VANCOUVER, January 23, 2008 -- Uranium North Resources Corp. (TSX-V:
UNR) reports the second tranche of the non-brokered placement announced
on December 7, 2007 has closed for proceeds of $308,160. A total of
642,000 units at a purchase price of $0.48 per unit have been issued.
Each unit consists of one common share and one-half share purchase
warrant. Each whole share purchase warrant entitles the holder to
purchase one common share at a price of $0.60 until January 23, 2009.
The aggregate proceeds from this financing total $1,482,960.
Finders' fees of 5% cash and 7% warrants were paid aggregating $12,000
and 35,000 finders' warrants. The finders' warrants are exercisable at
$0.60 until January 23, 2009.
All the securities issued hereunder are subject to a four month hold
period and may not be traded until May 24, 2008.
Uranium North is a junior mineral exploration company focused on
discovery. The company holds 100% interest in projects in the
Athabasca, Thelon and Hornby basins. The Amer Lake property hosts a 6.7
million lb historical resource (non NI 43-101 compliant).
ON BEHALF OF THE BOARD OF DIRECTORS
Janice Davies
Corporate Secretary
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) 2008 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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