Rackla Metals Arranges $1.0 Million Private Placement

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VANCOUVER, Sept. 17, 2012 /CNW/ - Rackla Metals Inc. (TSX-V: RAK) is pleased to announce that it has arranged, subject to stock exchange approval, a non-brokered private placement financing to raise up to $1.0 million.  The financing will consist of up to 2.0 million flow-through units at $0.10 per unit for proceeds of $200,000, and up to 10.0 million non flow-through units at $0.08 per unit for proceeds of $800,000.  Each unit will consist of one common share and one-half of a warrant.  Each whole warrant will entitle the holder to purchase one additional common share of the Company (non flow-through) at $0.10 for two years from closing.

The Company will allocate a portion of the financing to subscribers found by Axemen Resource Capital Ltd., an Exempt Market Dealer, and may agree to similar allocations to other exempt market or investment dealers.  The Company will pay finder's fees equal to 5% of subscription amounts found, payable in cash or units, plus issue finder's warrants in an amount equal to 5% of units purchased.  Each finder's warrant will be exercisable into one common share of the Company at a price of $0.10 for two years from closing.

The net proceeds of the placement will be used for exploration of the Company's properties in the Yukon Territory, and for general working capital purposes.

About Rackla 

Rackla Metals controls a portfolio of promising gold projects across Yukon Territory, including two extensive claim blocks in the Rackla belt -an emerging trend of Carlin type gold systems in east-central Yukon- and the Sixty Mile project near Dawson City.

ON BEHALF OF THE BOARD

"Simon Ridgway"
President and CEO

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. 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 U.S. Securities Act and applicable state securities laws or an exemption from such registration is available

Forward-Looking StatementSome of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of the Company.  Actual results may differ materially from those currently anticipated in such statement.

SOURCE Rackla Metals Inc.