NEWS

News

International Samuel Announces Closing Of Private Placements

International Samuel Exploration Corp. (the “Company”) is pleased to announce the closing of a non-brokered private placement of 6,000,000 units (each a “Unit”) at a purchase price of $0.12 per Unit, raising aggregate gross proceeds to the Company of $720,000.  Each Unit consists of one common share of the Company issued on a flow-through basis under the Income Tax Act (Canada) and one-half of one non-transferable common share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant entitles the holder to purchase one non-flow-through common share of the Company at a price of $0.15 per share until July 9, 2009.  A finder’s fee of 227,500 units (each a “Finder’s Unit”) were issued to Canaccord Capital Corporation (the “Finder”) , representing a 7% finder’s fee.  Each Finder’s Unit consists of one non-flow-through common share of the Company and one-half of one non-transferable common share purchase warrant (each whole warrant, a “Finder’s Warrant”).  Each Finder’s Warrant entitles the holder to purchase one non-flow-through common share of the Company at a price of $0.15 per share until July 9, 2009.  Proceeds from the private placement will be used to finance the exploration and development of the Company’s Ualliq option with Diamonds North Resources Ltd. and the joint venture at Reed Lake, Manitoba.

In addition, the Company announces the closing of an additional non-brokered private placement of 1,000,000 non-flow-through units (each a “NFT Unit”) at a purchase price of $0.11 per NFT Unit, raising total gross proceeds to the Company of $110,000. Each NFT Unit consists of one common share of the Company and one-half of one non-transferable common share purchase warrant (each whole warrant, a “NFT Warrant”). Each NFT Warrant entitles the holder to purchase one common share of the Company at a purchase price of $0.15 per share until July 9, 2009.  Proceeds from the private placement will be used to finance general administrative costs.

All securities issued in connection with the private placements are subject to a four month hold period that expires on November 10, 2008.

On Behalf of the Board of Directors

Conrad Swanson, President

For further information, please contact:  info@internationalsamuel.com

Safe Harbour Statement:  The Company relies upon litigation protection for “forward looking statements.”

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.