Contact Exploration Inc. - 2012-07-19

Contact Exploration Inc. has closed its previously announced non-brokered private placement of 20,000,000 common shares in the capital of the Company, issued on a "flow-through" basis pursuant to the Income Tax Act. The Flow-Through Shares were issued to a private investor at a price of $0.15 per share for aggregate proceeds of $3,000,000. Contact expects to use the proceeds of the Private Placement to incur eligible Canadian Exploration Expenses to fund its ongoing capital programs prior to December 31, 2013.