RATHDOWNEY ANNOUNCES PRIVATE PLACEMENT OF UP TO $2.6 MILLION

Rathdowney Resources Ltd. announces that it has entered into debt settlement agreement with a non arms-length party (the "Creditor") to settle an aggregate C$500,000 in debt (the "Debt"). In settlement of the Debt, the Company will issue an aggregate of 14,285,714 common shares in the capital of the Company (the "Debt Shares") at a deemed price of C$0.035 per Debt Share (the "Debt Settlement").

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