Galore Resources Inc.
TSX VENTURE : GRI

Galore Resources Inc.

August 12, 2008 13:09 ET

Galore Amends Price and Extends Exercise Term of IPO Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 12, 2008) - Galore Resources Inc. (TSX VENTURE:GRI) announces, subject to regulatory approval that it has agreed to extend the exercise term and amend the exercise price of 4,368,500 warrants exercisable at $0.50 and 1,194,250 warrants exercisable at $0.60 which were originally issued under the Company's Prospectus on March 14, 2007.

The expiry date of these warrants will be extended for an additional six months, from September 14th, 2008 to an expiry date of 4:30pm Vancouver time on March 14th, 2009.

The exercise price of both the 4,368,500 and 1,194,250 warrants will be reduced to a price of $0.35 per share, with a provision that if the closing price for the Company's shares is $0.44, or greater for a period of 10 consecutive trading days, then the warrant holders will be given 30 days to exercise their warrants, otherwise the warrants will expire on the 31st day.

GALORE RESOURCES INC.

Ray D. Torresan, Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information: The Company expressly warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company. No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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