Monroe Minerals Announces $1,500,000 Million Unit Offering

Monroe Minerals Inc. announces that is proceeding, subject to regulatory approval, with a non brokered offering of up to 15,000,000 units ("Units") by way of private placement at a purchase price of $0.10 per Unit for aggregate consideration of up to $1,500,000 (the "Offering"). Each Unit will consist of one common share in the share capital of Monroe ("Common Share") and one-half of one common share purchase warrant ("Warrant"). One whole Warrant will be exercisable into one Common Share at a price of $0.15 per Common Share for 18 months from the date of issuance subject to earlier expiry in certain circumstances.

Finders will receive a cash finder's fee in the amount of 8% of the gross proceeds of the sale of the Units that results from introductions from the finder and will be issued a non-transferable finder's warrant ("Finder's Warrant") to purchase Common Shares equal in number to 8% of the Units sold in connection with the Offering. Each Finder's Warrant will entitle the holder to purchase one Common Share at a purchase price of $0.10 on or before 12 months from the closing date of the Offering.

Monroe will use the proceeds of the Offering to work towards the assembly of a portfolio of uranium properties, diamond exploration and development and for general working capital purposes. The Offering is subject to regulatory approval.

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Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

For further information

Derek J Moran, President, Monroe Minerals Inc., 27 82 440 3426
Jeanny So, Broker Relations Specialist, CHF Investor Relations, (416) 868-1079, jeanny@chfir.com


Source: Monroe Minerals Inc.