$ 3.000.000 Private Placement
Not for dissemination to United States newswire services or for
dissemination in the United States.
Saskatoon, SK, February 23, 2011 - Mr. Richard Kusmirski,
President of JNR Resources Inc. (TSXV: JNN) announces that the Company is
undertaking a non-brokered private placement in the amount of $3,000,000. These
funds will be raised by the Company issuing a total of 6,000,000 units at a
price of $0.50 per unit. Each unit will consist of one flow through common
share and one-half of one common share purchase warrant. Each full warrant is
exercisable for eighteen months from closing into one common share at $0.65 per
Commissions will be payable in connection with the private placement, in
accordance with TSX Venture Exchange policies. Additionally, finders warrants
exercisable into common shares of JNR may be issued in an amount up to 5 per
cent of the number of units sold under this private placement.
The private placement is subject to the approval of the TSX Venture Exchange.
The funds raised by way of the private placement will be used for exploration
programs on the Company's properties located in Saskatchewan.
JNR is a junior resource company currently engaged in the exploration and
development of mineral properties in the provinces of Saskatchewan and
Newfoundland. The Company has a varied interest in several prospective uranium
properties in the Athabasca Basin of northern Saskatchewan.
ON BEHALF OF THE BOARD
President & CEO
For further information contact JNR Resources at 306.382.2211 or 877.567.6463
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.