McLaren closes $582,500 private placement

Mr. Radovan Danilovsky reports MCLAREN RESOURCES INITIAL CLOSING OF FINANCING McLaren Resources Inc. has closed a non-brokered private placement financing consisting of 11.65 million common share units for gross proceeds of $582,500. The common share units are issued at a price of five cents per unit, with each unit consisting of one common share in the capital of McLaren and one common share purchase warrant exercisable at a price of 10 cents per common share for a period of 24 months from the date of issuance. The company is currently arranging additional funds to raise up to $750,000 total. In connection with the financing, McLaren paid $2,200 in finders' fees to Stephen Avenue Securities Inc., 104,000 common share units to Haywood Securities Inc. and to Accilent Capital Management Inc., a finder's fee of 400,000 common share units of the company. After giving effect to the securities issued as set out and described in this news release, Accilent, a principal shareholder of the company as a finder and also as a subscriber of flow-through units through its affiliate Pavilion Flow-Through LP, has increased its direct and indirect holding of the voting securities of McLaren from 28.99 per cent to 30.72 per cent of shares outstanding, or 28.48 per cent to 31.01 per cent on a fully diluted basis. Gross proceeds from the financing will be used by McLaren for general working capital purposes including exploration work on the company's properties which are located in the Timmins gold region of Northeastern Ontario, Canada. The company has granted options to buy 2.2 million common shares of McLaren to officers and consultants. The options have an exercise price of 10 cents per share and have a term of two years. About McLaren Resources Inc. McLaren is focused on exploration work on its gold properties in the Timmins gold region of Northeastern Ontario. McLaren owns a 100-per-cent interest in the past-producing 640-hectare Blue Quartz gold mine property, plus the 1,770 ha McCool gold property and the 775 ha Kerrs gold property, which are located approximately 80 km east of Timmins city centre. The properties are proximal to the Destor-Porcupine deformation zone which is host to many of the gold deposits within the Abitibi greenstone belt. We seek Safe Harbor.