49 North Resource Fund Inc. Changes Name to 49 North Resources Inc.

49 North Resource Fund Inc. (TSX VENTURE:FNR) ("49 North" or the "Company") is
pleased to announce it has changed its name from "49 North Resource Fund Inc."
to "49 North Resources Inc." As previously announced in June of 2008, the
Company has ceased to be an "investment fund" for securities law purposes and is
expanding its business into a broader range of activities, including but not
limited to an increased role in the management of and larger positions
(including, potentially, control positions) in selected resource issuers and/or
becoming directly or indirectly (through one or more subsidiaries, joint
ventures, farm-in or other arrangements that may be established for that
purpose) involved in the acquisition, development and/or commercialization of
resource properties. As a result, at the June 17, 2009 annual and special
meeting of shareholders (the "Meeting") management proposed, and 49 North's
shareholders approved, a special resolution changing the name of the Company to
"49 North Resources Inc." in order to better describe the Company's business
activities. The removal of the second preferred, series 1 shares from the
Company's articles was also completed as authorized by the Company's
shareholders at the Meeting.


49 North is a resource investment, financial and managerial advisory and
merchant banking company that invests in the Canadian resource sector, with an
emphasis on junior and intermediate mineral exploration companies with
activities in Saskatchewan. Additional information about the Company is
available at www.sedar.com. 


Forward Looking Information: This release contains forward-looking information
("FOFI") regarding possible future events that are based upon assumptions. FOFI
involves known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated in such
FOFI. Readers are cautioned not to place undue reliance on FOFI as it is
inherently uncertain and no assurance can be given that the expectations
reflected in such information will prove to be correct. The FOFI in this release
is made as of the date hereof and 49 North assumes no obligation to update or
revise such information to reflect new events or circumstances.


The securities of 49 North have not been registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements. This release is issued for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of any securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.