New Issue: Resource Mining raises A$1.6 million in private placement of stock

By Sheri Kasprzak

Atlanta, June 21 - Resource Mining Corp. Ltd. said it has closed a private placement for A$1,584,000.

The company sold 17.6 million shares at A$0.09 each to Mount Gibson Iron, Stemcor Australia, Sinom, Anchorage Holdings, Societe Generale, and Euroz Securities.

The investors also received an attached option with each share purchased, exercisable at A$0.20 each through June 30, 2006.

The proceeds from the deal will be used for drilling on Resource's Argyle iron ore project, exploration on the Ravensthorpe project and working capital.

Based in West Perth, Western Australia, Resource is an iron exploration company.

Issuer:	Resource Mining Corp. Ltd.
Issue:	Stock
Amount:	A$1,584,000
Shares:	17.6 million
Price:	A$0.09
Options:	One attached option per share purchased
Option expiration:	June 30, 2006
Option price:	A$0.20
Investors:	Mount Gibson Iron, Stemcor Australia, Sinom, Anchorage Holdings, Societe Generale, and Euroz Securities
Settlement date:	June 21
Stock price:	A$0.11 at close June 21

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