Date Closed

July 18, 2012

Lead Office

Vancouver

Value

4.40 Million CAD

On July 18, 2012, Heatherdale Resources Ltd. Announced that it had completed a C$4.4 million non-brokered private placement financing with Rathdowney Resources Ltd., of 22,000,000 common shares at a price of C$0.20 per share, for aggregate proceeds of C$4.4 million. The common shares are subject to a four month and a day hold period beginning July 17, 2012. No finder's fees were payable on the financing.
 
The proceeds will be used to advance drilling and engineering studies at the Niblack Project and for general corporate and working capital purposes. Rathdowney now owns 18.4% of the issued voting shares of Heatherdale and in an early warning report filing made on July 18, 2012, Rathdowney confirmed that the purchase of these shares were made by it for investment purposes and not with a view to influencing control or management of Heatherdale.

Heatherdale Resources, headquartered in Vancouver, British Columbia, is a mineral exploration and development company.

McCarthy Tétrault LLP represented Heatherdale, with a team led by Roger Taplin.