2010-09-14 09:18 ET - News Release

Mr. Bryce Porter reports

LYSANDER ANNOUNCES $8 MILLION UNIT FINANCING

Lysander Minerals Corp. has entered into a letter of intent with Salman Partners Inc., which will act as agent for a best efforts private placement offering consisting of 38,095,000 units at a price of 21 cents per unit for aggregate gross proceeds of approximately $8-million.

The placement will facilitate the continuing advancement and development of the company's Verticalnaya anthracite project in the Donbass coal basin of southeastern Ukraine.

Each unit will consist of one common share of the company and one common share purchase warrant entitling purchase of one common share at an exercise price of 30 cents per common share within 12 months of the closing of the offering.

The company expects to close the offering on or about Sept. 30, 2010, subject to applicable regulatory approvals. All securities issued as part of the offering will be subject to a four-month hold period from the closing date.