One Year Anniversary of Active Trading in 49 North Shares

February 22, 2008 marked the one year anniversary of active trading in 49 North shares and we are very proud of our accomplishments.  In what has been a very challenging year for investment in virtually all fields, 49 North stands out as a true success story.  When held to relevant benchmarks such as the TSX venture index and our peer group of resource investment companies, our performance shines.  Not only have we outperformed our benchmarks by a wide margin but we have also substantially increased shareholder value year over year.

49 North’s success can be attributed to our aggressive investment style as well as the particular success evident in Saskatchewan’s rapidly developing resource sector.  Our mandate to provide early stage investment opportunities with a focus on Saskatchewan’s resources has proved to be a very beneficial strategy.  By combining publicly traded resource stocks with very early stage private equity seed capital, we strive to give our investors the best possible mix of opportunities.

In recognizing the promise of new potash development in the province we were able to connect our shareholders with very successful early stage investments in companies like Athabasca Potash, Anglo Potash, Raytec Metals and Western Potash.  As this sector advances we expect significant further value creation through our current holdings and believe this potential alone is a compelling reason to own 49 North Resource shares.

Seed capital and pre-IPO investments can be very lucrative, but typically are not available to the general investing public.  49 North was created specifically to connect retail investors with these types of opportunities.  Current early stage investments of this nature within the portfolio include pre-IPO holdings of companies exploring for potash, gold, iron ore and other base metals as well as oil and gas.  It is our view that these investments represent significant unrecognized value within 49 North that can accrue to investors as these companies begin publicly trading.

The wealth creation potential of Saskatchewan’s resource sector is truly outstanding and we are very proud to act as a capital market ambassador to what has become one of the premiere resource jurisdictions in the world.

Sincerely

Tom MacNeill
President/CEO
49 North Resource Fund Inc.