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Blue Note Mining Inc. Completes $40,040,000 Equity Financing

Monday, November 12th, 2007

Blue Note Mining Inc. announce that it has closed its previously announced public offering of 71,500,000 units of the Company at a price of $0.56 per Unit for gross proceeds of C$40,040,000. (the “Offering”)
Each Unit consists of one common share in the capital of the Company and one-half of one common shares purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company for a period of 24 months following the closing of the Offering at a price of $0.67 per common share.
The Offering was undertaken by a syndicate of agents comprised of Desjardins Securities Inc. and Salman Partners Inc., with Desjardins acting as lead agent. The Company has granted the agents an over-allotment option to purchase up to an additional 10,725,000 common shares and 5,362,500 warrants, exercisable at any time up to 30 days from the closing of the Offering.
The net proceeds of the Offering will be used for operating working capital, repayment of long term debt, administrative working capital, and the Company’s corporate growth plan.
For further information visit: www.bluenotemining.ca

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