Lysander Minerals closes $600,400 private placement

Lysander Minerals Corp (C:LYM)
Shares Issued 23,046,130
Last Close 6/23/2009 $0.125
Wednesday June 24 2009 - News Release

Mr. Bryce Porter reports

LYSANDER CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT, RAISES $600,400

Lysander Minerals Corp. has closed the previously announced non-brokered private placement (see the company's news release in Stockwatch on May 26, 2009) and issued 4,002,667 units at a price of 15 cents per unit to raise gross proceeds of $600,400. The offering was oversubscribed by 1,002,667 units, resulting in additional proceeds of $150,400. Each unit consists of one common share and one share purchase warrant entitling the holder thereof to purchase an additional common share at a price of 15 cents for a period of two years. All securities issued pursuant to this private placement are subject to a four-month hold period expiring Oct. 25, 2009. There were no finders' fees paid in connection with this placement.

Proceeds of the placement will be applied to costs related to the Verticalnaya anthracite mine, other resource investments and for general working capital.