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| December 16, 2008 Financing Arranged | |
| Vancouver, BC: Ross River Minerals Inc. (TSX-V: RRM) (the "Company") is pleased to announce that it has arranged a non-brokered private placement by the sale of 3,500,000 units at a price of $0.05 per Unit for total maximum gross proceeds of $175,000. Each Unit will consist of one common share and one-half non-transferable share purchase warrant. Each full warrant entitles the holder to acquire a common share for a period of two years from closing at a price of $0.15 per share. The Company will pay a finder's fee on closing of up to 8% on a portion of the gross proceeds, in cash or in units or any combination thereof. The net proceeds from this private placement will be used for general working capital. This financing is expected to close by January 15, 2009. The second tranche of a previously announced private placement has been cancelled (see press release dated June18, 2008). This private placement is subject to acceptance by the TSX Venture Exchange. ROSS RIVER MINERALS INC. Per: "Marcus N. Foster" Marcus N. Foster, President To find out more about Ross River Minerals (TSX-V: RRM) visit our website at www.rossriverminerals.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the adequacy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered in the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable securities laws or an exemption from such registration is available. This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "allocated", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or are "subject to" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. | |
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