Canadian Shield Closes Private Placement Financing

Canadian Shield Resources Inc. (TSX VENTURE:CSP) ("Canadian Shield" or the
"Company") is pleased to announce it has completed a non-brokered expedited
private placement of 1,007,002 Units at a price of $0.15 per Unit for gross
proceeds of $151,050.


Each Unit is comprised of one common share and one-half non-transferable Series
O Warrant. Each whole Series O Warrant ("Warrant") entitles the holder to
purchase one common share at an exercise price of $0.25 for a period of 18
months from the date of closing. The Warrant is callable, at the option of
Canadian Shield, four months after the date of closing in the event its common
shares trade at or over $0.50 per share for 10 consecutive trading days. 


The net proceeds from this private placement will be used for working capital
and general corporate purposes.


The selling agent will be paid a finder's fee of 10% of the gross proceeds from
the Units placed.


The 1,007,002 common shares issued under the private placement and any shares
issuable upon the exercise of the Warrants are subject to a four month
regulatory hold period.  The closing of the private placement is subject to the
acceptance of the TSX Venture Exchange.


Investors are invited to visit the Canadian Shield IR Hub at
http://www.agoracom.com/IR/CanadianShield where they can post questions and
receive answers or review questions and answers already posted by other
investors. Alternatively, investors are able to e-mail all questions and
correspondence to [e-mail] where they can also request to be added to
the investor e-mail list to receive all future press releases and updates in
real time.


About Canadian Shield Resources Inc. (TSX VENTURE:CSP) 

Canadian Shield acquires and explores strategically-located precious and base
metal properties in South America.  The Company currently controls a portfolio
of nine exploration properties located in Peru and Chile. Canadian Shield will
continue to focus on project generation and joint venture opportunities to
provide shareholders with interests in a broad portfolio of South American
mineral properties. The Company's shares are listed on the TSX Venture Exchange
(Trading Symbol TSX VENTURE:CSP). Further information is available at Canadian
Shield's website: www.canadianshieldresources.com.


STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION,
INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR
EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING
STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS
AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT,
ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING
STATEMENTS.