JNR Resources Inc. News Release
Tuesday, August 03, 2010
JNR Announces Private Placement
NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Saskatoon, Saskatchewan, August 3, 2010 - 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 $250,000. These funds will be raised by the Company issuing a total of 1,470,588 units at a price of $0.17 per unit.
Each unit will consist of one common share and a share purchase warrant, with each warrant exercisable into a common share for a period of two years after closing at an exercise price of $0.25 in the first twelve months and at an exercise price of $0.30 thereafter.
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.
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
Neither the 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 news release.
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