Cedar Mountain Announces $2 Million Private Placement Offering

Cedar Mountain Exploration Inc. (the "Corporation") (TSX VENTURE:CED) today
announced that it will be offering on a non-brokered private placement basis
(the "Offering") up to 13,333,334 units of the Corporation ("Units") at a price
of $0.15 per Unit for gross proceeds of $2,000,000 if the Offering is fully
subscribed. The proceeds will be used to fund exploration at Cedar's Kelly Creek
property and general working capital.


Each Unit will consist of one common share of the Corporation ("Common Share")
and one non-transferable share purchase warrant ("Warrant") entitling the holder
to acquire one additional Common Share at a price of $0.20 if exercised within
12 months of issuance and $0.30 if exercised after 12 months of issuance. The
Warrants will expire on the earlier of: (a) 30 days following the issuance of a
news release by the Corporation that the trading price of the Shares on the TSX
Venture Exchange is at or greater than $0.40 per Common Share for 10 consecutive
trading days; and (b) 24 months from the date of issuance. The Units will be
offered to qualified purchasers in reliance upon exemptions from the prospectus
and registration requirements of applicable securities legislation. Insiders of
the Corporation may participate in the Offering.


The Offering is subject to acceptance by the TSX Venture Exchange ("Exchange")
and if permitted under applicable securities laws and by the Exchange, the
Corporation will pay a finder's fee to registered dealers equal to 10% of the
gross proceeds realized from sales of Units made to purchasers referred to the
Corporation by such dealer (which may be paid in either cash or Common Shares at
a deemed price of $0.15 per Common Share, at the sole discretion of the
Corporation) and issue to such dealer non-transferable share purchase warrants
entitling the dealer to acquire that number of Common Shares equivalent to 10%
of the Units sold to purchasers referred to the Corporation by such dealer on
terms identical to the Warrants of the Units.


The Kelly Creek Property 

The Kelly Creek Project is a drill-permitted early-stage exploration property of
32,640 acres (13,209 hectares) with historic results indicating the presence of
a sediment-hosted gold deposit located 145 km north of Nome, Alaska on the
Seward Peninsula within the prolific Nome mining district, which has
historically recorded placer gold production of 5 million ounces. Infrastructure
in the region is favorable and a winter road runs through the property's eastern
boundary. 


Kelly Creek is a gold exploration project with numerous open-ended,
multi-element, coincident gold (Au), arsenic (As), antimony (Sb) soil anomalies
which have been tested with a positive, albeit limited drilling program.
Geological and geochemical results to date are indicative of a sediment-hosted
gold deposit. A well known type of sediment-hosted gold deposit is the Carlin
Trend, Nevada. 


Gold mineralization at Kelly Creek is hosted in a metamorphosed
Devonian-Silurian carbonate-shale platform-shelf sequence and is associated with
the intersection of specific stratigraphic horizons and secondary fault splays.
This prospective stratigraphy is exposed along a 15 km x 5 km corridor bounded
by regional faults. The majority of the corridor is only sparsely investigated
by geochemical surveys and the additional claims were staked to protect the
strike extent of the prospective stratigraphy. 


The gold mineralization at Kelly Creek was discovered by Anaconda Copper Mining
Co. (Anaconda) as part of a regional stream sampling project focused on tin
exploration in the early 1980's, when the significance of sediment-hosted gold
deposits was not well known. Following up a positive gold stream anomaly with a
small, but encouraging soil survey, Anaconda drilled two holes into the target
horizon returning results of 1.07g/t over 23.5m and 0.83g/t over 32m
respectively. Anaconda pulled out of Alaska for corporate reasons a year later
in 1985.


Cedar's disclosure of a technical or scientific nature in this press release has
been reviewed and approved by Cedar's Vice President of Exploration, Mr. David
Clarke M.Sc., P.Geol. who serves as a Qualified Person under the definition of
National Instrument 43-101. The Kelly Creek property represents an early stage
exploration property and does not contain any mineral resources as defined by
National Instrument 43-101.


Cedar is a member of the Discovery Group of Companies: www.discoveryexp.com.

Cedar Mountain Exploration Inc. (TSXV:CED)
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