Playfair Mining closes $1.1-million private placement

2008-09-22 15:52 ET - News Release

Mr. Neil Briggs reports

PLAYFAIR MINING LTD. CLOSES PRIVATE PLACEMENT

Playfair Mining Ltd., further to its news releases in Stockwatch of June 23, 2008, and Aug. 18, 2008, has closed its private placement, issuing a total of 10,051,546 flow-through common shares at a price of 11 cents per share for gross proceeds of $1,105,670. The company paid finders' fees totalling $49,137.90 in connection with the private placement.

All securities issued with respect to this private placement are subject to a hold period expiring on Jan. 20, 2009.

The private placement proceeds will be used to advance the company's drill programs under way at the Grey River and Risby properties