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05
OCT
2009

Magna Resources Ltd. Postpones Private Placement

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– Rudy de Jonge, President of Magna Resources Ltd.(“Magna”) (CNSX: MNA), advises that Magna’s previously announced nonbrokered private placement of up to 6, 000, 000 units, which was originally announced June 12, 2009 and extended August 5, 2009, will not proceed at this time. Management has postponed the company’s financing efforts until pending permits for its Utah Potash applications are received from the Bureau of Land Management.

On behalf of MAGNA RESOURCES LTD.

Rudy de Jonge

Rudy de Jonge
President

This press release contains forward-looking information regarding management’s anticipated completion of the proposed private placement financing and its anticipated use of the proceeds. The forward-looking information contained in this press release is made based on expectations of management as of the date of this press release and, except as required by applicable law, Magna does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Magna to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. There is no assurance that Magna will be able to raise some or all of the proposed private placement financing.

THE CNSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

 

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