Mr. J.G. Stewart reports

SALMON RIVER CLOSES $1.3 MILLION PRIVATE PLACEMENT

Further to news in Stockwatch Dec. 1, 2010, and Dec. 8, 2010, Salmon River Resources Ltd. has closed the non-brokered private placement issuing a total of 8,666,666 common shares at a price of 15 cents per share to raise a total of $1.3-million. All shares issued pursuant to this placement are subject to a four-month hold period expiring on May 8, 2011.

The proceeds of the placement will be used to finance exploration on Salmon River's Treppo Gande property in Western Australia and for working capital.