Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that the Company is proceeding with a non-brokered private placement to raise up to $6,000,000 through the issuance of up to 16,666,667 units ("Units") at a price of $0.36 per Unit. Each Unit will consist of one common share of the Company and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company for a period of four years at an exercise price of $0.50. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day.The Company may pay a finder's fee on all or a portion of the private placement. The Company intends to use the proceeds from the private placement for exploration expenditures and for general working capital purposes. Completion of the private placement is subject to the approval of the TSX Venture Exchange.