Mr. Robert Nordin reports

PROPOSED PRIVATE PLACEMENT

Subject to regulatory approval, Clydesdale Resources Inc. intends to conduct a non-brokered private placement offering comprising 44,444,444 units at 1.125 cents per unit for total gross proceeds of up to $500,000. Each unit will consist of one common share and one 12-month transferable warrant. Each warrant shall be exercisable at five cents per common share. Finders' fees may be payable in connection with this offering. Proceeds will be utilized to retire outstanding debts, evaluate suitable resource properties to reactivate the company and provide general working capital.

The common shares issued to subscribers resident in Canada in the offering will be subject to a statutory four-month hold period. The offering is subject to certain closing conditions, including, but not limited to, the receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange and the completion of required regulatory filings with the TSX-V.

We seek Safe Harbor.