WMK Whitemud Resources Inc

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.


Whitemud Resources Inc. ("Whitemud" or the "Company") (TSX VENTURE:WMK) is
pleased to announce that it has entered into an agreement with a syndicate of
underwriters led by Thomas Weisel Partners Canada Inc. (collectively, the
"Underwriters") to purchase, on a bought deal private placement basis, 2,143,000
special warrants of the Company at a price of C$7.00 per special warrant, for
aggregate gross proceeds of C$15,001,000 (the "Offering").


The Underwriters will arrange for purchasers of the special warrants. Each
special warrant shall be automatically exercised for no additional consideration
to acquire one common share in the capital of the Company, subject to adjustment
in certain events, at 5:00 pm (Calgary time) on the earlier of (a) the third
business day after the date that a receipt is issued by the securities
regulatory authorities in Canada for a final prospectus qualifying the ordinary
shares to be issued upon the exercise of the special warrants and (b) the date
that is 45 days following the Closing Date, as defined below. If the principal
securities regulator has not issued a receipt for the prospectus within 45 days
of the date of the closing of the offering, the holder of each special warrant
shall be entitled to receive 1.1 common shares in lieu of one common share upon
exercise of the special warrant.


Whitemud plans to use the net proceeds of this financing for general corporate
purposes.


The Offering is scheduled to close on or about June 26, 2008, (the "Closing
Date") and is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals including the approval of the TSX Venture
Exchange. The securities to be issued under this offering will be offered by way
of private placement exemptions in certain provinces of Canada and in the United
States on a private placement basis pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as amended.


The securities being offered have not, nor will they be registered under the
United States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer for sale of securities
in the United States.


About Whitemud Resources

Whitemud is a Canada-based corporation that is exploiting a large kaolin deposit
in southern Saskatchewan. The Company produces Whitemud(MK), a high-reactivity,
cement-grade metakaolin that enhances the performance of cement used in
construction and in oil and gas wells. The Company is positioned to benefit from
expanding North American infrastructure needs and growing environmental
pressures.


Forward Looking Information

This press release may contain forward-looking statements which may include
estimates, plans, expectations, opinions, forecasts, projections, guidance or
other statements that are not statements of fact, including without limiting the
generality of the foregoing, statements made under the heading "Operations
Update". Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it cannot give any assurance that
such expectations will prove to be correct. Results of Whitemud including its
ability to achieve the plant facility's design capacity, deliver commercial
shipments of product and the success of the solutions made to remedy equipment
failures may be affected by a variety of variables and risks associated with the
mining and mineral processing industry such as, loss of market, competition,
ability to access sufficient debt and equity capital from internal and external
sources, ability to expand in the marketplace, exploration and development plans
and results, anticipated capital expenditures and financing thereof, timing of
applications and approvals. As such the future plans and objectives of Whitemud
are forward-looking statements that involve risks and uncertainties and may be
based on assumptions that could cause actual results to differ materially from
those anticipated or implied in such statements. The Company's forward-looking
statements are expressly qualified in their entirety by this cautionary
statement. Unless otherwise required by applicable securities laws, the Company
does not intend nor does it undertake any obligation to update or review any
forward-looking statements to reflect subsequent information, events, results or
circumstances or otherwise.


For email alerts regarding Whitemud Resources, please go to Whitemud Resources
Inc. - Email Alerts.

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