Heatherdale Closes $4.15 Million Non-Brokered Financing

March 2, 2012

March 2, 2012, Vancouver, BC -- Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSX-V: HTR), announces that it has completed in two tranches the previously announced non-brokered private placement, of a total 9,216,333 units at a price of $0.45 per unit for aggregate proceeds of approximately $4.15 million, with the first tranche having closed on February 10, 2012 and the second tranche having closed on March 2, 2012.

Each unit consists of one common share and one warrant entitling the holder to purchase an additional common share at a price of $0.60 for a period of 15 months from the closing of either the first or second tranche, as applicable. The common shares and warrants comprising the units are subject to a four month and a day hold period. Finder's fees were payable in cash on a portion of the financing.

Proceeds from the placement 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.

The units have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "United States Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the United States Securities Act and applicable state securities laws or an exemption for such registration requirements is available.

About Heatherdale

Heatherdale Resources Ltd. is a Vancouver-based exploration and development company focused on advancing the high-grade mine development opportunity at its wholly-owned Niblack Project. The Company also holds a 60% interest, with the option to acquire a 100% interest, in the mid-stage Delta copper-zinc-lead-silver-gold project, located in east-central Alaska. Heatherdale is associated with the Hunter Dickinson group, which has a track record of successful mineral exploration and development projects around the world.

For further details on Heatherdale, please visit 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, and 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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