White Pine Closes Private Placement Financing to Raise $820,000

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White Pine Resources Inc. (TSX VENTURE:WPR) ("White Pine") announces today that
it has closed its previously announced non-brokered offering to raise gross
proceeds of $820,000. Pursuant to the offering, White Pine issued an aggregate
of (i) 1,180,000 flow-through common shares ("FT Shares") at $0.25 per FT Share;
and (ii) 2,100,000 hard dollar units ("Units") at $0.25 per Unit, each such Unit
consisting of one common share of White Pine and one-half of one share purchase
warrant, each whole such share purchase warrant entitles the holder thereof to
acquire one additional common share of White Pine (which shall not be a
"flow-through" share) for a period of 18 months at an exercise price of $0.35
per share. All securities issued in connection with the offering are subject to
a statutory hold period expiring on March 19, 2012. Insiders of White Pine
purchased an aggregate of 1,300,000 Units and 170,000 FT Shares in connection
with the offering.


The private placement remains subject to the approval of the TSX Venture Exchange. 

About White Pine Resources Inc. 

White Pine is a Canadian based mineral exploration company primarily focused on
the exploration and development of mineral deposits in Canada. 


Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
WPR, including, but not limited to the impact of general economic conditions,
industry conditions, volatility of commodity prices, risks associated with the
uncertainty of exploration results, currency fluctuations, dependence upon
regulatory approvals, the availability of financing and exploration risk.
Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.


Shares Outstanding: 33,716,533