Uracan announces closing of its previously announced $3.8 million financing

    Trading Symbol: (TSX-V): URC

    VANCOUVER, June 21 /CNW/ - Uracan Resources Ltd. (the "Company") is
pleased to announce that it has closed its non-brokered private placement of
4 million units at a price of $0.95 per unit for gross proceeds of $3.8
    Each unit consist of one common share and one-half common share purchase
warrant. Each whole share purchase warrant is exercisable at a price of $1.25
until June 20, 2009. One million of these units were issued on a flow-through
    All securities issued pursuant to the private placement are subject to a
four month hold period expiring October 21, 2007.
    The proceeds from the private placement will be used by the Company for
further exploration and development of the Company's 900-square-kilometre
(222,395-acre) North Shore uranium property in Quebec, and at its Pipewrench
Lake and Narrows Lake properties in Saskatchewan, as well as for working

    The TSX Venture Exchange has not reviewed, and does not accept
    responsibility for the adequacy or accuracy of the content of this news

For further information:

For further information: Gregg J. Sedun, President and CEO, (604)
682-5580; Keith Schaefer, Vanguard Shareholder Solutions Inc., (604) 608-0824,

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Uracan Resources Ltd.

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