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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2011) -





NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES





Uranium North Resources Corp. (TSX VENTURE:UNR) (the "Company") announces effective February 8, 2011 it has closed the brokered private placement with its agent, BayFront Capital Partners Ltd. (the "Agent") for the sale of 6,423,685 flow-through shares ("Flow-Through Shares") at a price of $0.38 per Flow-Through Share for gross proceeds of $2,441,000 and 18,530,000 units ("Units") at a price of $0.30 per Unit for gross proceeds of $5,559,000. Included in the issuance was the Agent's fully exercised over allotment option of $4,000,000.


Each Unit is comprised of one common share and one-half of one share purchase warrant ("Warrants"). Each whole Warrant entitles the holder to purchase one common share for a period of 18 months at a price of $0.38 per share for the first 12 months of the term and $0.45 per share for the remainder of the term.


The Agent and members of its selling group were paid aggregate cash commissions of $450,000 and were also issued 1,418,274 warrants (the "Brokers' Warrants"), each Brokers' Warrant entitling the holder to purchase one Unit for a period of 18 months at a price of $0.30 per Brokers' Warrant.


The Flow-Through Shares, Units and Brokers' Warrants are subject to a statutory hold period expiring on June 9, 2011.


The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.



About Uranium North



Uranium North Resources Corp. owns 100% interest in four drill ready gold/silver/copper projects and one gold/silver project. The company also owns four uranium projects including the Amer Lake project which contains a 19.3 million pound uranium resource.



ON BEHALF OF THE BOARD OF DIRECTORS



Mark Kolebaba, President and CEO




FOR FURTHER INFORMATION PLEASE CONTACT: Heather Kays
Uranium North Resource Corp.
Corporate Communication
604-484-7120
604-484-7143 (FAX)
info@uraniumnorth.com
http://www.uraniumnorth.com/">www.uraniumnorth.com