Loncor announces financing

    TORONTO, Aug. 10 /CNW/ - Loncor Resources Inc. (the "Company" ) (TSX-V
Symbol: "LN") announces that it is negotiating a non-brokered private
placement of up to 3,000,000 common shares of the Company at a price of
Cdn$0.75 per share for proceeds to the Company of up to Cdn$2,250,000. Closing
of this financing (the "Financing") is subject to the approval of the TSX
Venture Exchange. The Company intends to use the proceeds from the Financing
for working capital and general corporate purposes.

    Forward-Looking Information: Statements in this press release announcing
the proposed Financing are forward-looking information within the meaning of
applicable Canadian securities laws. Forward-looking information is subject to
a number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include,
among other things, failure to complete the proposed Financing, the need to
satisfy regulatory and legal requirements with respect to the proposed
Financing, risks related to the exploration stage of the Company's projects,
market fluctuations in prices for securities of exploration stage companies,
uncertainties about the availability of additional financing, uncertainties
related to fluctuations in commodity prices and the other risks involved in
the mineral exploration business. Although the Company believes that the
assumptions inherent in the forward-looking information are reasonable,
forward-looking information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information due to the
inherent uncertainty therein.

    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.

For further information:

For further information: please visit our website at www.loncor.com or
contact Arnold T. Kondrat, Chairman of the Board, Telephone: (416) 366-2221

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