Montreal, Québec, January 23, 2012 - Blue Note Mining Inc.
(TSXV: BNT) ("Blue Note" or the "Company") announces that
it has closed a non brokered private placement (the
"Private Placement") of 4,687,500 flow-through shares at a
price of $0.08 each for gross proceeds of $375,000.
These securities were issued pursuant to applicable
prospectus exemptions and will be subject to a statutory
hold period of four months and one day from closing
expiring May 21, 2012. Closing of the Private Placement
remains subject to the approval of the TSX Venture
Exchange.
The net proceeds from the Private Placement will be used to
advance Blue Note's Croinor and Chimo projects, which
will constitute Canadian exploration expenses (as defined
in the Income Tax Act (Canada)) and will be renounced for
the 2012 tax year.
About Blue Note Mining
Blue Note Mining is a mineral exploration and mining
company headquartered in Montreal with properties located
in known gold regions of Canada, including the prolific
Val-d'Or region of Quebec and northern New Brunswick.
Forward-Looking Statements:This news release contains
discussion of items that may constitute forward-looking
statements within the meaning of securities laws that
involve risks and uncertainties. Although the company
believes the expectations reflected in such forward-looking
statements are based on reasonable assumptions, it can give
no assurances that its expectations will be achieved.
Factors that could cause actual results to differ
materially from expectations include the effects of general
economic conditions, actions by government authorities,
uncertainties associated with contract negotiations,
additional financing requirements, market acceptance of the
Company's products and competitive pressures. These factors
and others are more fully discussed in Company filings with
Canadian securities regulatory authorities.
"Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release."
