Kesselrun Resources Completes Private Placement Financing

THUNDER BAY, ON, Nov. 7, 2012 /CNW/ - Kesselrun Resources Ltd. (TSXV: KES) ("Kesselrun") is pleased to announce that it has closed the brokered private placement financing (the "Offering") previously announced Oct. 3, 2012.  Kesselrun issued 2,010,000 Units (the "Units") at a price of C$0.50 per Unit for gross proceeds of $1,005,000.00.

Each Unit is comprised of one common share (a "Share") and one-half of one Share purchase warrant. Each whole warrant is exercisable into an additional Share at a price of $0.75 per Share for a period of two years expiring Nov. 06, 2014.

The company paid a cash commission of 8%, a corporate finance fee of $15,000 and issued 269,600 agents' warrants in connection with the Offering.  Each agent's warrant entitles the holder to acquire one Share at a price of $0.50 for a period of two years expiring Nov. 06, 2014.

All securities issued under the Offering are subject to a hold period under securities law of four months and a day from the date hereof, which will expire on March 7, 2013.

Proceeds from the private placement will be used to fund continued exploration and commence the initial drilling program at its Bluffpoint project in Ontario, as well as for working capital purposes.

Bayfront Capital Partners Ltd. acted as the agent on the Offering.

About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit our website at www.kesselrunresources.com.

Forward Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, including without limitation, the private placement, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that may cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com.

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.

SOURCE: Kesselrun Resources Ltd.

For further information:

Contacts:

Kesselrun Resources Ltd.
Michael Thompson, P.Geo, President & CEO
807.285.3323 

Adam Rabiner, Corporate Communications
604.868.7881 or 1.866.416.7941
[e-mail]