Long Harbour Exploration Corp. (TSX VENTURE:LHC) reports that it will, subject
to approval of the TSX Venture Exchange, undertake a private placement with an
insider to raise $50,000 through the issuance of 400,000 units at a price of
$0.125 per unit. Each unit will consist of one common share and one share
purchase warrant. Each share purchase warrant will entitle the holder to
purchase, for a period of two years, one common share at a price of $0.125. The
proceeds of this private placement will be allocated to general working capital.


Peter Espig, the new CEO of the company, is the single placee of this private
placement. Mr. Espig stated, "Having recently accepted the role of CEO I believe
it important to display personal alignment with shareholders."
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