Uranium North Resources Corp V.UNR

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[kelownasun]

Uranium North Completes First Tranche of Flow-Through Financing VANCOUVER, BRITISH COLUMBIA, Aug 24, 2007 (CCNMatthews via COMTEX News Network) -- Uranium North Resources Corp. (TSX VENTURE: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 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. SOURCE: Uranium North Resources Corp. Uranium North Resources Corp. Heather Kays Corporate Communications [phone] [phone] (FAX) Email: [e-mail] Website: www.uraniumnorthresources.com Copyright (C) 2007 CCNMatthews. All rights reserved.