Natan Resources Announces Conversion of Subscription Receipts and Update on Duval Property and Option Agreement

Kelowna - Natan Resources Ltd. (“Natan” or the “Company”) (TSX-V: NRL) is pleased to announce that the 8,996,250 subscription receipts of the Company (the "Subscription Receipts") issued pursuant to its previously announced brokered private placement (the “Offering”) led by First Republic Capital Corporation (the “Agent”) have been converted, on a one-for-one basis, into 8,996,250 units of the Company ("Units") following the satisfaction of the escrow release conditions that the Company receive all approvals of the TSX Venture Exchange to acquire the Montalembert property from Globex Mining Enterprises Inc.. Garfinkle Biderman LLP acted as legal advisor to the Agent.

Each Unit will consist of one common share and one-half of one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one common share of the company at a price of $0.30 for a period of 24 months following the closing date of the Offering.


The net proceeds of the Offering have been released from escrow to the Company. The Company intends to use the net proceeds from the Offering for exploration and general corporate purposes.


Update on Duval Property

The Company also announced today that it has received exploration results from the phase 1 prospecting program on the Duval Property and are currently being analyzed. In order to accurately assess the exploration results, the Company has entered into an extension agreement (the “Extension”) with Critical Elements Corporation providing for a deferral of its first-year exploration expenditures on the Duval Property until August 31, 2017. Except as provided in the Extension all other terms and conditions of the Option Agreement remain unchanged.


For further information regarding this news release contact:

Steve Roebuck, CEO
Tel: (647) 496-7983
Cell: (905) 741-5458
Email: steve@natanresources.ca


On behalf of the Board of Directors

Natan Resources Ltd.



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 news release.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.