High North Resources Ltd.: Corporate Update-Brokered Financing

High North Resources Ltd. (TSX VENTURE:HN) (the "Company" or "High North") is
pleased to announce it intends to complete a portion of the previously announced
financing May 14th, 2013, as a brokered financing.


On May 14, 2013 the Company announced a non-brokered private placement financing
(the "Financing") for the sale of 15,000,000 non flow-through units at a price
of $0.35 per unit and 7,500,000 flow-through shares at a price of $0.40 cents
per share, for total gross proceeds of $8,250,000.


Subsequent to the May 14, 2013 release, the Company closed the first tranche of
the financing on July 30th, 2013 for $3,400,000. The company now intends to
complete a portion of the second tranche as a brokered financing. The Company
will pay finder's fees in accordance with TSX Venture Exchange policy.


All securities issued pursuant to the Financing are subject to a four month hold
period from the date of issuance. The Financing and the finder's fees are
subject to approval from the TSX Venture Exchange.


About High North Resources Ltd.

High North Resources Ltd. is a TSX.V listed oil and gas development company with
assets near the Peace River Arch area of Northwestern Alberta. The Company has
an option to acquire 129 sections (82,560 acres) of oil and gas leases
strategically concentrated into seven blocks with hydrocarbon potential, ranging
from the Cretaceous Dunvegan through to the Devonian Granite Wash formation.
Multiple conventional and unconventional oil targets are present including the
Montney, Duvernay and Nordegg formations.


READER ADVISORY

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.


This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although High North believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in forward looking
statements. Forward looking statements are based on the beliefs, estimates and
opinions of High North's management on the date the statements are made. Except
as required by law, High North undertakes no obligation to update these
forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.


The forward-looking statements contained in this press release are made as of
the date of this press release, and the Company does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as expressly required by securities law.


THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES
HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
High North Resources Ltd.
Colin Soares, President/Director
(403) 463 7393
Investor Relations: (604) 687 1779
csoares@highnorthresources.com
www.highnorthresources.com

High North Resources Ltd. (TSXV:HN)
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