White Pine Resources Inc. Announces Private Placement Financing Increase

TORONTO, ONTARIO--(Marketwire - Aug. 12, 2009) -

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White Pine Resources Inc. (TSX VENTURE:WPR) ("WPR" or the "Company") is pleased to announce that it has increased the size of its previously announced non-brokered private placement, such that WPR now proposes to issue such number of units ("Units") at a price of $0.40 per Unit and such number of flow-through common shares ("FT Shares") at a price of $0.45 per FT Share, as may together raise aggregate gross proceeds of up to $2,500,000. All other terms of the offering remain the same as set forth in the previous press release of the Company dated August 10, 2009.

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

About White Pine Resources Inc.

White Pine Resources Inc. is a Canadian based mineral exploration company with extensive property holdings strategically located on and around the nickel/copper "Ring of Fire" in northern Ontario near James Bay. The common shares of White Pine Resources Inc. trade on the TSX Venture Exchange under the symbol "WPR".

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 resource and reserve estimates, 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.