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Siberia Mining Corporation Ltd -26-Jul-04

Announced placement of 5,950,000 ordinary shares to institutional and sophisticated investors through lead manager, Patersons Securities Ltd at a subscription price of $0.24 a share to raise $1,428,000; and a one for six fully underwritten renounceable rights issue for 18,016,000 shares at a subscription price of $0.22 a share to raise $3,963,520.

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