Win-Eldrich Mines Closes $400,000 Private Placement

TORONTO, Dec. 30 /CNW/ -- 
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
 IN THE UNITED STATES/


TORONTO, Dec. 30 /CNW/ - Win-Eldrich Mines Limited (TSXV - WEX), a mining exploration and development company, announces
 the closing of a non-brokered private placement financing for gross
 proceeds of CDN$400,000.


Under the offering, Win-Eldrich issued 1,333,333 Units at a price of
 $0.30 per Unit, with each Unit consisting of one common share and
 one-half of one common share purchase warrant. Each whole warrant will
 entitle the holder to purchase one additional common share at a price
 of $0.45 per share for a period of 12 months.  Win-Eldrich will have
 the right to accelerate the expiry date of the warrants if the closing
 price of its shares on the TSX Venture Exchange ("TSXV") exceeds $0.60
 for a period of 30 consecutive days on which the TSXV is open for
 trading.


The proceeds from the offering will be used to fund further exploration
 and development of Win-Eldrich's Ashdown molybdenum deposit,
 exploration of the Ashdown gold deposit and for general working capital
 purposes.


All securities issued pursuant to the offering are subject to a four
 month hold period from the date of issue.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
 (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
 ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


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pPerry Muller, President, Win-Eldrich Mines Limited, at [phone]/p

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