Mr. Andrew Bowering reports

REDHILL INCREASES STAKE IN HIGH NORTH

Redhill Resources Corp. has acquired ownership and control over 850 convertible 12-per-cent unsecured subordinated debentures of High North Resources Ltd. at a price of $1,000 per debenture for an aggregate principal amount of $850,000, representing approximately 9.8 per cent of the total issued and outstanding debentures of High North. The principal amount of the debentures is convertible into common shares of High North at a price of 85 cents per share at any time on or before April 4, 2015.

Following the acquisition, Redhill (i) beneficially owns and controls a total of six million common shares in the capital of High North, representing approximately 11.64 per cent of High North's issued common shares, (ii) beneficially owns warrants entitling Redhill to purchase an additional 1.5 million common shares at a price of 50 cents per share; or, assuming exercise of the warrants, a total of 7.5 million common shares or approximately 14.14 per cent of High North's issued and outstanding common shares on a postexercise beneficial ownership basis, and (iii) beneficially owns 850 debentures having an aggregate principal amount of $850,000, entitling Redhill to acquire, upon conversion, an additional one million common shares at a price of 85 cents per share or, assuming conversion of the debentures, a total of 8.5 million common shares or approximately 15.73 per cent of High North's issued and outstanding common shares on a postconversion beneficial ownership basis (including the exercise of the warrants).

The debentures were acquired by Redhill as principal for investment purposes pursuant to a private placement offering of debentures by High North at a subscription price of $1,000 per debenture for a total subscription price of $850,000 cash in reliance upon the prospectus exemption contained in Section 2.3(1) of National Instrument 45-106 prospectus and registration exemptions, by virtue of Redhill's status as an accredited investor under applicable securities laws. Redhill's holdings in High North will be evaluated and the investments increased or decreased from time to time as circumstances warrant.

A report respecting this acquisition will be electronically filed with the applicable securities commission in each jurisdiction where High North is reporting, and will be available for viewing on SEDAR.