Business News • MarketWire • 49 North Resources Inc. Announces Closing of Its Acquisition of a Private Oil and Gas Company With Assets in the Area of Kindersley Saskatchewan

49 North Resources Inc. Announces Closing of Its Acquisition of a Private Oil and Gas Company With Assets in the Area of Kindersley Saskatchewan

49 North Resources Inc. Announces Closing of Its Acquisition of a Private Oil and Gas Company With Assets in the Area of Kindersley Saskatchewan

SASKATOON, SASKATCHEWAN--(Marketwire - April 15, 2010) - 49 North Resources Inc. ("49 North") (TSX VENTURE:FNR) has closed its previously announced acquisition of 89.5% of the issued and outstanding common shares of AllStar Energy Limited, a private company with oil and gas assets in the Kindersley area of Saskatchewan (the "Acquisition"). The 10.5% residual interest is owned by the founders and operators of the private company. The Acquisition provides 49 North with a significant interest in just over nine sections of highly prospective land underlain by the prolific Viking oil formation for a cost of approximately $592 per acre.

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