EDM Resources arranges $1-million private placement

Mr. Mark Haywood reports EDM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF C$1,000,000 EDM Resources Inc. has arranged a non-brokered private placement offering of 9,090,909 units at a price of 11 cents per unit for total gross proceeds of $1-million. Each unit will consist of one common share of the company and one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share at a price of 14 cents for a period of 36 months following the issue date of the unit. Pursuant to applicable Canadian securities laws, the common shares, the warrants and any warrant shares issued upon the exercise of warrants will be subject to a four-month-plus-one-day hold period from the closing date. If during the exercise period of the warrants, the common shares trade at or above a volume-weighted average trading price of 30 cents per common share for 10 consecutive trading days, the company may accelerate the expiry time of the warrants to 30 days from the date on which the company provides written notice to the holders of the warrants. The proceeds of the offering will be used to advance the company's Scotia mine to a production decision and for general working capital purposes. Certain directors, officers and other insiders of the company are expected to acquire securities under the offering. Such participation will be a related party transaction as such term is defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, but is exempt from the valuation and minority shareholder approval requirements of MI 61-101. The offering is subject to TSX Venture Exchange approval. About EDM Resources Inc. EDM is a Canadian exploration and mining company that has full ownership of the Scotia mine and related facilities near Halifax, N.S. Through its wholly owned subsidiary, EDM also holds several prospective exploration licences near its Scotia mine and in the surrounding regions of Nova Scotia. The company's common shares are traded on the TSX Venture Exchange under the symbol EDM and the Frankfurt Stock Exchange under the symbol P3Z. We seek Safe Harbor.