Uranium North Resources Corp V.UNR

Financing

[cautious36]

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Re:News Release - Monday, July 05, 2010
Uranium North IncreasesFinancing
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VANCOUVER,July 5, 2010 - Uranium North Resources Corp. (TSX-V: UNR)
reports that theprivate placement announced on May 31, 2010 has
increased. The Companyintends to complete a non-brokered private
placement of up to $1,000,000,comprising a combination of flow-through
common shares at a price of
.08cents per share and non-flow-through
units at a price of
.08 cents per unitsubject to regulatory
approval. The funds will be used to finance theCompany's exploration
projects and for working capital.

Eachnon-flow-through unit will consist of one common share and
one-half sharepurchase warrant. Each such common share purchase
warrant will be exercisableinto one common share for a period of one
year from closing at a price of
.12 cents per share.

Finder's fees of 7% of the units and/orflow-through shares sold may be
payable in cash or shares on a portion of thefinancing to finders who
assist in the placement, as permitted underapplicable securities laws.
In addition, any brokerage firms participatingas finders may receive,
as additional compensation, non-transferable sharepurchase warrants
entitling the holder thereof to purchase such number ofcommon shares
in the capital of Uranium North that equals an aggregate of 7%of the
number of units and/or flow-through shares sold by the brokeragefirm
(the "Broker's Warrants). Each such Broker's Warrant shall entitlethe
holder thereof to purchase one additional common share at a priceof

.12 for a period of one year from the closing date.

AboutUranium North

Uranium North Resources Corp. is a Canadian company with aNunavut
focus. Uranium North holds title to the second largest uraniumresource
in Nunavut, the Amer Lake Deposit. While maintaining its focuson
uranium, the company has initiated exploration for gold on 3 projects.


ON BEHALF OF THE BOARD OF DIRECTORS

Mark Kolebaba
President & CEO

For additional information please contact:
Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: [phone]
Facsimile: [phone]
Website: www.uraniumnorth.com
Email: [e-mail]

The TSXVenture Exchange does not accept responsibility for the
adequacy or accuracyof thisrelease.

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Copyright(c) 2010 URANIUM NORTH RESOURCES CORP,. (UNR) All rights
reserved. For moreinformation visit our website at
https://www.uraniumnorth.com/ or send mailto:[e-mail]
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