| January 06, 2009 Monroe Minerals Suspends Private Placement | |
| Calgary, December 31, 2008 - Monroe Minerals Inc. (TSX Venture: MMX) ("Monroe") today announced that it is suspending the private placement announced on December 5, 2008. Monroe President and CEO Derek Moran commented: "Market conditions reduced demand below initial indications and we are suspending the financing until the environment is more favourable. Subscription already received will be returned forthwith. Monroe is fortunate that it is in advance of its earning obligations on its principal properties and is not under financing pressure." Monroe participates in three uranium exploration projects in Newfoundland and Labrador and held cash resources of approximately $1 million at the end of November 2008. Monroe is engaged in the assembly of an international portfolio of uranium exploration projects. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Monroe's shares trade on the TSX Venture Exchange under the symbol MMX. For more information please visit www.monroeminerals.com. FOR FURTHER INFORMATION PLEASE CONTACT: Derek J Moran, President, Monroe Minerals Inc. 27 82 440 3426 Robin Cook, Senior Account Manager, CHF Investor Relations (416) 868 1079 x228 To receive company news releases via e-mail, please advise and specify "Monroe press releases" in the subject line. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. | |
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