Mr. Robert Nordin reports

PRIVATE PLACEMENT CLOSING

Clydesdale Resources Inc. has closed its previously announced private placement of 25 million units of the company for aggregate gross proceeds of $500,000. Each unit comprises one common share and one common share purchase warrant exercisable at five cents for 60 days from closing and 20 cents thereafter until 12 months from closing. No finders' fees were paid in connection with the private placement.

All securities issued in connection with the private placement are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation in Canada. The use of proceeds will be dedicated to administrative and general working capital, with no specific use of proceeds representing 10 per cent or more of the gross, nor will any proceeds be used for investor relations activities or payments to non-arm's-length parties (as defined in TSX Venture Exchange policies) of the company.

We seek Safe Harbor.