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International Samuel Announces Closing of First Tranche of Non-Brokered Private Placement

Vancouver, B.C. - International Samuel Exploration Corp. (ISS: TSX-V) (the “Company”) is pleased to announce the closing of the first tranche its non-brokered private placement offering (the “Offering”) of up to 2,000,000 flow-through units (each an “FT Unit”) at a price of $0.25 per FT Unit and up to 500,000 non-flow-through units (each an “NFT Unit”) at a price of $0.20, to raise gross proceeds to the Company of up to $600,000, as originally announced in the Company’s news release dated April 26, 2010.

A total of 824,000 FT Units were issued in the first tranche of the Offering, raising gross proceeds to the Company of $206,000. 

Each FT Unit is comprised of one common share of the Company, intended to qualify as a flow-through share under the Income Tax Act (Canada) and one common share purchase warrant exercisable to acquire an additional non-flow-through common share at a price of $0.40 for a period of two years from the date of issuance.  Each NFT Unit is comprised of one non-flow-through common share of the Company and one common share purchase warrant exercisable to acquire an additional non-flow-through common share at a price of $0.30 for a period of two years from the date of issuance. 

A finder at arm’s length to the Company received a finder’s fee paid in units (the “Finder’s Units”) equal to 7% of the number of FT Units issued in the first tranche of the Offering.  Each Finder’s Unit is comprised of one non-flow-through common share and one common share purchase warrant exercisable to acquire an additional non-flow-through common share at a price of $0.40 for a period of two years from the date of issuance. 

All securities issued in the first tranche of the Offering will be subject to a hold period under applicable securities laws expiring on October 9, 2010. 

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