Mr. Brian Buchanan reports

BERKWOOD CLOSES NON-BROKERED PRIVATE PLACEMENT

Berkwood Resources Ltd. has closed its previously announced non-brokered private placement by issuing 2,298,111 flow-through common shares at a price of nine cents per flow-through share for gross proceeds of $206,830 and 1,103,000 units at a price of 7.5 cents per unit for gross proceeds of $82,725, for combined gross proceeds of $289,555. Each unit consists of one common share plus one-half of one share purchase warrant with each warrant entitling the holder to purchase one additional common share of the company at 10 cents per share for the period of two years. For further information regarding the financing, please see the company's press releases that were issued on Nov. 1 and Nov. 9, 2012.

The proceeds of this private placement will be used for exploration programs, acquisition of properties and general working capital. Finders' fees consisting of $13,456.40 and $1,080 in cash and 42,240 units were paid in accordance with the policies of the TSX Venture Exchange. The shares and warrants issued by the company are subject to a four-month hold period, which expires on April 29, 2013.