Heatherdale Announces $5 Million Non-Brokered Financing

December 12, 2011

December 12, 2011, Vancouver, BC - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces a proposed private placement of approximately 11.1 million units in its capital at a price of $0.45 per unit for gross proceeds of approximately $5 million to a number of accredited and other investors, including participation by Company insiders. Each unit will consist of one common share and one warrant, with each warrant exercisable to purchase an additional common share at a price of $0.60 for 15 months from the closing of the financing, which is expected on or about December 21, 2011. The securities issued will be subject to a four month hold period under Canadian securities laws. Finder's fees may be payable on a portion of the financing. The financing is subject to regulatory approval.

Proceeds from the financing will be used to continue to advance engineering studies and a preliminary economic assessment of the Niblack property in Alaska and for general corporate and working capital purposes.

For further details on Heatherdale Resources Ltd., please visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

On behalf of the Board of Directors

Scott Cousens
Chairman and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

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