Mr. Timothy Froude reports

SOKOMAN IRON CORP. CLOSES PRIVATE PLACEMENT

Sokoman Iron Corp. has closed a non-brokered private placement for gross proceeds of $318,000 consisting of 700,000 flow-through units for $35,000 and 5.66 million non-flow-through units for $283,000.

Each flow-through unit will be issued at five cents and will consist of one flow-through common share and one common share purchase warrant, each common share purchase warrant being exercisable at eight cents for five years. Flow-through funds will be used to advance newly acquired gold properties in Newfoundland.

Each non-flow-through unit will be issued at five cents and will consist of one common share and one common share purchase warrant, each exercisable at five cents for five years.

The common shares comprising the flow-through and non-flow-through units and the common shares issuable upon exercise of the common share purchase warrants will be subject to a four-month hold period commencing on the closing date, being the date of issuance of the units. The company has paid fees totalling $19,040. The financing and associated terms are subject to TSX Venture Exchange approval.

Directors of the company subscribed for 300,000 units.

This news release has been reviewed and approved by Timothy Froude, PGeo, a qualified person under National Instrument 43-101 and interim chief executive officer for Sokoman Iron.

We seek Safe Harbor.