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Radisson Sells its Interest in Massicotte Property

Nov 22, 2012

ROUYN-NORANDA, QUÉBEC–(Marketwire – Nov. 22, 2012) – Radisson Mining Resources Inc. (TSX VENTURE:RDS) announces today that it has sold its remaining 49 % interests in the Detour East property (Massicotte township) to Balmoral Resources Ltd.

Under an agreement between the company and Radisson Miming Resources Inc., Balmoral will acquire from Radisson the entirety of Radisson’s retained interest in the Detour East Property by making a cash payment to Radisson of $200,000, issuing in favour of Radisson 300,000 common shares and granting to Radisson a 2% net smelter royalty (“NSR”) on the mining claims which comprise the Detour East Property. Balmoral may, at any time, purchase the first half of the NSR royalty for a cash payment of $1,000,000 and may similarly purchase the second half of the NSR for an additional cash payment of $2,000,000. The shares to be issued will be subject to standard 4 month hold provisions from the date of issue.

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