McLaren Resources closes $150,995 private placement

Mr. Radovan Danilovsky reports MCLAREN RESOURCES CLOSES FINANCING McLaren Resources Inc. has closed a non-brokered private placement financing, consisting of 2,323,000 flow-through (FT) units for gross proceeds of $150,995. The flow-through units are issued at a price of 6.5 cents per unit, with each FT unit consisting of one common share in the capital of McLaren issued on a flow-through basis pursuant to the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each whole warrant is exercisable at a price of 10 cents per common share for a period of 24 months from the date of issuance. The company has granted options to buy 2.2 million common shares of McLaren to officers, directors and consultants. The options can be exercised at 10 cents per share, with 500,000 options having a term of five years and 1.7 million options having a term of three years from issuance. In addition, 2.54 million common shares of McLaren have been issued to officers, directors and consultants for services provided. Each common share issued is valued at five cents per share. In connection with the financing, McLaren paid Accilent Capital Management Inc. a finder's fee of 124,000 common shares and 124,000 warrants 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 28.76 per cent to 28.99 per cent of shares outstanding or 28.31 per cent to 28.46 per cent on a fully diluted basis. Gross proceeds from the financing will be used by McLaren for exploration work on the company's properties, which are located in the prolific Timmins gold region of Northeastern Ontario, Canada, where over 70 million ounces of gold have been produced to date. 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, as well as the 1,770-hectare McCool gold property and the 775-hectare Kerrs gold property, which are located approximately 80 kilometres 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.