HEATHERDALE CLOSES $7.9 MILLION FINANCING

VANCOUVER, Dec. 1 /CNW/ - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces that it has completed the previously announced non-brokered private placement of 7,889,500 units of its capital at a price of $1.00 per unit for gross cash proceeds of $7,889,500.  Each unit consists of one common share and one warrant entitling the holder to purchase an additional common share at a price of $1.20 for a period of 18 months from the closing of the private placement. The common shares and warrants comprising the units are subject to a four month hold period. 

Proceeds from the placement will be used to continue to advance exploration of the Niblack property in Alaska and for general corporate and working capital purposes.

The securities have not been, and will not be registered under the United States Securities Act of 1933, as amended ("the United States Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the United States Securities Act and applicable state securities laws or an exemption for such registration requirements is available.

President and CEO Patrick Smith commented, "We are pleased to complete this financing, which will assist us to advance our drilling program and assessment of the high grade mineralization within the Lookout zone at Niblack."

Heatherdale Resources Ltd. is a Vancouver-based exploration and development company associated with Hunter Dickinson Inc. (HDI). The Company is focused on advancing the high-grade mine development opportunity at the Niblack Project.  Heatherdale has the right to retain a 51% interest in the Niblack Project and an option to acquire up to a 70% interest from Niblack Mineral Development Inc.

On behalf of the Board of Directors

Scott Cousens
Chairman and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

For further information:

For further details on Heatherdale, please visit www.heatherdaleresources.com or contact Investor Services at [phone] or within North America at 1-800-667-2114.