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International Samuel Announces Closing Of Private Placements, Granting Of Stock Options And Investor Relations Consulting Agreement

Closing of Private Placements

International Samuel Exploration Corp. (the “Company”) is pleased to announce the closing of the flow-through and non-flow-through non-brokered private placements (respectively, the “FT Placement” and the “NFT Placement”) originally announced in the Company’s news release of March 2, 2010, for aggregate gross proceeds to the Company of $382,500.

In the FT Placement, 1,290,000 units (each an “FT Unit”) were issued at a purchase price of $0.25 per FT Unit, raising aggregate gross proceeds to the Company of $322,500.  Each FT Unit consists of one common share of the Company issued on a flow-through basis under the Income Tax Act (Canada) and one non-transferable common share purchase warrant (each an “FT Warrant”).  Each FT Warrant entitles the holder to purchase one non-flow-through common share of the Company at a price of $0.30 per share until March 19, 2012.  A finder’s fee of 87,500 units (each a “Finder’s FT Unit”) was issued to Canaccord Capital Corporation (the “Finder”), representing 7% of the number of FT Units issued to subscribers introduced to the Company by the Finder.  Each Finder’s FT Unit consists of one non-flow-through common share of the Company and one non-transferable common share purchase warrant (each a “Finder’s FT Warrant”).  Each Finder’s FT Warrant entitles the holder to purchase one non-flow-through common share of the Company at a price of $0.30 per share until March 19, 2012.  Proceeds from the FT Placement will be used to finance the Company’s exploration program on the Reed Lake property in Manitoba.

In the NFT Placement, 300,000 non-flow-through units (each an “NFT Unit”) were issued at a purchase price of $0.20 per NFT Unit, raising total gross proceeds to the Company of $60,000.  Each NFT Unit consists of one common share of the Company and one non-transferable common share purchase warrant (each an “NFT Warrant”).  Each NFT Warrant entitles the holder to purchase one common share of the Company at a purchase price of $0.25 per share until March 19, 2012.  A finder’s fee of 21,000 units (each a “Finder’s NFT Unit”) was issued to the Finder, representing 7% of the number of NFT Units issued to subscribers introduced to the Company by the Finder.  Each Finder’s NFT Unit consists of one non-flow-through common share of the Company and one non-transferable common share purchase warrant (each a “Finder’s NFT Warrant”).  Each Finder’s NFT Warrant entitles the holder to purchase one non-flow-through common share of the Company at a price of $0.25 per share until March 19, 2012.  Proceeds from the NFT Placement will be used for general working capital.

All securities issued in connection with the FT Placement and the NFT Placement are subject to a four month hold period that expires on July 20, 2010.

Stock Options Grants

The Company announces that it has granted an aggregate of 159,000 stock options to various directors, officers, employees and consultants of the Company.  The options are exercisable to acquire common shares of the Company at a price of $0.31 per share for a term of five years from the date of grant and are subject to regulatory approval, including the approval of the TSX Venture Exchange.

Investor Relations Consulting Agreement

The Company is pleased to announce that it has entered into an investor relations consulting agreement (the “IR Consulting Agreement”) with D.A. Huston & Associates (“Huston”).  Pursuant to the IR Consulting Agreement, Huston will provide investor relations consulting services to the Company for a three month period in consideration for a payment from the Company of $2500 per month.  In addition, the Company will grant Huston stock options to acquire up to 100,000 common shares for a period of five years.    The IR Consulting Agreement remains subject to the approval of the TSX Venture Exchange. 

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.”

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.