49 North Resources Inc. Announces Reverse Takeover of Capstock Financial Inc. by Kimpar Resources Inc.

TSX Venture Exchange symbol FNR

SASKATOON, Sept. 2, 2011 /CNW/ - Mr. Tom MacNeill, the President and Chief Executive Officer of 49 North Resources Inc. ("49 North" or the "Company") (TSX Venture: FNR), is pleased to announce the Company's 80% owned subsidiary Kimpar Resources Inc. ("Kimpar") has entered into an asset purchase agreement dated effective August 30, 2011 respecting the acquisition of all of Kimpar's mineral claims (the "Transaction") by Capstock Financial Inc. ("Capstock").  Capstock is a capital pool company listed on the NEX under the symbol "CPK.H" and the Transaction, if completed, will constitute Capstock's Qualifying Transaction under the policies of the TSX Venture Exchange and a reverse take-over of Capstock by Kimpar.  For further information about the Transaction, please see Capstock's news release dated September 1, 2011.  Additional information about Capstock is available under Capstock's SEDAR profile at www.sedar.com. Completion of the Transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and approval by the shareholders of Kimpar.

49 North is a Saskatchewan focused resource investment company with strategic operations in financial, managerial and geological advisory services and merchant banking. Our diversified portfolio of assets includes direct project involvement in the resource sector, as well as investments in shares and other securities of junior and intermediate mineral and oil and gas exploration companies. Additional information about 49 North is available at www.sedar.com.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. In particular but without limitation, this press release includes statements respecting the successful closing of the Transaction and anticipated benefits from the Transaction. There is no certainty the Transaction will be completed. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, 49 North assumes no obligation to update or revise such information to reflect new events or circumstances.

Neither 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 release.

SOURCE 49 North Resources Inc.

For further information:

49 North Resources Inc.
Tom MacNeill
President and Chief Executive Officer
306-653-2692 or ir@fnr.ca.


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