Dilution...ouch.... lousy 25 cents

Formerly WSR

Aggressive program in a highly prospective portion of the "Ring of Fire" mineralized zone.

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Boatboy

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Dilution...ouch.... lousy 25 cents

posted on Jan 22, 2009 06:56AM

TORONTO, ONTARIO--(Marketwire - Jan. 22, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

White Pine Resources Inc. (TSX VENTURE:WPR)("WPR") is pleased to announce that it proposes to complete a non-brokered private placement pursuant to which it will issue up to 2,000,000 flow-through units ("FT Units") at a price of $0.25 per FT Unit to raise aggregate gross proceeds of up to $500,000. Each FT Unit will consist of one "flow-through" common share and one share purchase warrant of WPR, each whole such share purchase warrant entitling the holder thereof to acquire one additional common share of WPR (which shall not be a "flow-through" share) for a period of 12 months at an exercise price of $0.35 per share.

The private placement remains subject to the approval of the TSX Venture Exchange.

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