Conway Resources Inc.
TSX VENTURE : CWY

Conway Resources Inc.

October 13, 2009 07:00 ET

Conway Resources Announces $350,000 Private Placement

QUEBEC CITY, QUEBEC--(Marketwire - Oct. 13, 2009) - Conway Resources Inc. (TSX VENTURE:CWY) announces that it is negotiating a private placement for a maximum of $350,000 for which it will issue 4,250,000 flow-through shares at $0.07 per share and 1,050,000 common shares at $0.05 per share. Each share will be accompanied by a full warrant. Each warrant will entitle its holder to subscribe for one additional common share of the Company at a price of $0.12 for a 12-month period following the closing date of the private placement.

The proceeds from the private placement of flow-through shares is earmarked for the bulk sampling on the Conway and Paquin veins and for the statutory work required to keep the Belleterre property claims in good standing for 2009, as indicated in the agreement with Ressources Mines Belleterre Inc. The proceeds from the private placement of common shares will be used for working capital purposes and payment of a 10% finder's fee related to this placement.

The private placement is subject to the approval of the TSX Venture Exchange.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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