On January 26, 2007, Ditem Explorations closed a private placement financing, resulting in gross proceeds of $2.75 million. Ditem issued an aggregate of 4,230,769 Units at a price of $0.65 per Unit. Each Unit is comprised of one common share and one-half of one common share purchase warrant, each of which full warrant is exercisable at a price of $0.75 for 24 months from date of closing. Bearbeech Capital Partners Corp. acted as agent for this private placement. The proceeds from the private placement will be used by Ditem for exploration primarily on the Otish Mountain Property in Quebec, the Beartooth Island Project in the Athabasca Basin of Saskatchewan and the Cree Lake Property also in the Athabasca Basin of Saskatchewan, as well as for general working capital. Bearbeech Capital Partners was advised in this matter by a team from Fasken Martineau comprised of Rubin Rapuch, Nancy Eastman and Michael Gleeson.