Welcome To The 49 North Resources HUB On AGORACOM

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Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Sincerely,

George et al

Message: NR 40 North 100% Allstar Energy

SASKATOON, SASKATCHEWAN – (CNW – February 8, 2012) 49 North Resources Inc. (“49 North”) (TSXV: FNR) reports that it has agreed to purchase the remaining shares of its previously 89.5% owned subsidiary, Allstar Energy Limited (“Allstar”), for an aggregate purchase price of $1,250,000 payable through the issuance of 288,462 common shares of 49 North at a deemed price of $3.25 per share, cash consideration of $100,000 payable at closing and issuance of an interest free promissory note in the amount of $212,500 due April 30, 2012 (the “Acquisition”). 49 North acquired its initial stake in Allstar in April, 2010.

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