/NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
SASKATOON, SK, April 17, 2012 /CNW/ - Mr. Richard Kusmirski, President of JNR Resources Inc. (TSXV: JNN) ('JNR' or the 'Company') announces that the Company is undertaking a non-brokered private placement in the amount of $600,000 These funds will be raised by the Company issuing a total of 6,000,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each full warrant is exercisable for eighteen months from closing into one common share at $0.15 per share.
Commissions will be payable in connection with the private placement, in accordance with TSX Venture Exchange policies. Additionally, finders warrants exercisable into common shares of JNR may be issued in an amount up to 6 per cent of the number of units sold under this private placement.
The private placement is subject to the approval of the TSX Venture Exchange.
About JNR Resources Inc.
JNR Resources Inc. is a Canada-based junior uranium exploration company with mineral properties in the provinces of Saskatchewan and Newfoundland. JNR is led by a highly experienced management team with proven discovery success in uranium as well as precious and base metal exploration. The Company's primary focus is in the Athabasca Basin, recognized as the most prospective uranium-mining district in the world. JNR controls a 100% interest in six properties in the basin totalling 193,965 hectares and an additional seven joint venture properties totalling 129,803 hectares in which Denison Mines Corp. has varying interests. JNR also holds a 50% interest in the 29,824-hectare South Fork uranium property located in the Cypress Hills area of southwestern Saskatchewan, with joint venture partner Mega Uranium Ltd. In Newfoundland, JNR holds a 73.4% interest (Altius Mineral Corporation 26.6%) in the 6,450-hectare Rocky Brook uranium property and is also in a 50:50 alliance with Altius on its 105,675-hectare Topsails uranium property.
ON BEHALF OF THE BOARD
President & CEO
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.
For further information:
contact JNR Resources at 306.382.2211 or 877.567.6463