| ||Fri Dec 12, 2003|
Muskox Minerals Corp. Announces Closing of Private Placement
| ||Muskox Minerals Corp. (the "Corporation") (MSK:TSXV) is pleased to announce that it has closed the private placement that was first announced in its press release dated November 14, 2003. The Corporation sold 21,413,333 units ("Regular Units") at an issue price of $0.15 per Regular Unit for gross proceeds of $3,212,000, with each Regular Unit consisting of one common share and one common share purchase warrant ("Warrant"). The Warrants allow for the purchase of one common share at a price of $0.18 and are exercisable for two years. The securities issued are subject to a restricted period of four months which expires on April 13, 2003. Thomas Kovacs, Williams De Broe Plc, VSA Resources and Ifbc Ltd. received finders fees in consideration of services provided to the Corporation in connection with the private placement. Thomas Kovacs received 126,667 Warrants, Williams De Broe received a cash payment of 2,625, VSA Resources received a cash payment of $7,200 plus 26,667 Warrants and Ifbc Ltd. received a cash payment of $209,275.|
The Corporation will use the proceeds to begin exploration work on the Atlin Gold Project in British Columbia.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the release.
For further information from Muskox Minerals Corp., please contact the following persons: Dr. Roger D. Morton CEO, Phone: (780) 413-3479; Additional information on the company may be sought at Muskox Mineral's website: www.muskoxminerals.com
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