Knight Resources Ltd.
TSX VENTURE : KNP
FRANKFURT : KRL

Knight Resources Ltd.

November 07, 2007 17:48 ET

Knight Resources Ltd.: $4.0 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2007) -

NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Mr. David Patterson, Chairman of Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL), announces that the Company is undertaking a private placement in the amount of $4,000,000.

The funds will be raised by the Company issuing a total of 10,000,000 flow-through units at a price of $0.40 per unit for gross proceeds of $4,000,000. Each flow-through unit will be comprised of one flow-through common share and one common share purchase warrant. Each share purchase warrant entitles the holder to acquire one additional non flow-through common share of the Company for a period of one year, at a price of $0.55.

Fees and commissions will be payable in connection with the private placement. The private placement is subject to the approval of the TSX Venture Exchange.

The funds raised by way of the private placement will be used for exploration programs on the Company's West Raglan Project, located in northern Quebec.

ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.

David Patterson, Chairman

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

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