Lounor Exploration Inc. - Private placement



    Listing (TSXV = LO/ FRANKFURT = LE2A)

    ROUYN-NORANDA, QC, Aug. 19 /CNW Telbec/ - Lounor Exploration Inc.
("Lounor) is pleased to announce the closing of a private placement of
CDN $1,202,628.68.
    The private placement was marketed on a best efforts agency basis by
Becher McMahon Capital Markets Inc. to accredited investors who purchased
5,755,516 "flow-through" Units of Lounor at a price of $0.19 each and
606,000 non-flow-through Units at a price of $0.18 each. Each Flow-Through
Unit is comprised of one flow-through common share of Lounor and one common
share purchase warrant. Each warrant entitles the holder to purchase one non
flow-through common share of Lounor at a price of $0.26 for a 24-month period
expiring August 15, 2010. Each non-flow-through Unit is comprised of one
common share of Lounor and one common share purchase warrant. Each warrant
entitles the holder to purchase one common share of Lounor at a price of $0.24
for a 24-month period expiring August 15, 2010.
    As consideration for its services, Becher McMahon Capital Markets Inc.
and its sub-agent were granted non transferable compensation options which
entitle them to purchase up to an aggregate of 48,480 Units of Lounor at a
price of $0.18 per Unit until August 15, 2010. Also Becher McMahon Capital
Markets Inc. and it sub-agent were granted an aggregated 460,441 non
transferable share purchase warrant; each share purchase warrant entitle the
holder to purchase one (1) common share of Lounor at a price of $0.26 per
share until August 15, 2010. Lounor finally paid $96,210.29 in fees to Becher
McMahon Capital Markets Inc. for acting as agent.
    The securities issued pursuant to this private placement are subject to a
hold period of four months expiring December 15, 2008.
    The gross proceeds from the Flow-Through Units will be used by Lounor to
incur exploration expenses on its mining properties located in Ontario and in
Quebec.

    LOUNOR EXPLORATION INC. is a publicly traded company on the TSX-Venture
(TSXV-LO) and on the Frankfurt Exchange (LE2A).

    This press release was prepared by LOUNOR EXPLORATION INC. and the TSX
    Venture has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.
    %SEDAR: 00008670EF




For further information:

For further information: Mr. Gilles Fiset, President, 1-800-388-8668,
(819) 797-8668, Fax: (819) 797-6050; Leo Patry, Investor Relations,
1-888-974-1276, (514) 951-0250, leo.patry@hotmail.com; www.lounor.com

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Lounor Exploration Inc.

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