Shaw River Resources has successfully raised USD 5 million, placing 33.33 million shares at an issue price of 15 cents per share to sophisticated and professional investors.

Atlas Iron, largest shareholder in Shaw River participated in the placement, as did OM Holdings. OM Holdings acquired a 9.9% stake in Shaw River in earlier on market acquisitions.

Mr Vincent Algar MD of Shaw River said that funds will be used to accelerate exploration at the flagship Baramine Manganese Project. He added that drilling is currently underway at Baramine and exploration will accelerate in Q4 of 2009.

Funds will also be used to progress Shaw River's Mt Minnie Project, a manganese, copper gold, base metals project and the 701 Mile Project - a manganese, iron ore project.