Prominex Resource Corp.
TSX VENTURE : PXR

Prominex Resource Corp.

January 26, 2007 15:50 ET

Prominex Resource Corp.: Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 26, 2007) -

Mr. Allen Rose reports:

Prominex Resource Corp. (TSX VENTURE:PXR) today announced that, subject to Exchange approval, the Company will be raising up to $200,000 through the issuance of Units priced at $0.15.

Each Unit will consist of one Common Share and one Common Share Purchase Warrant. Each Common Share Purchase Warrant will entitle the holder to purchase one additional Common Share for 24 months from the closing date at a price of $0.30 per share for the first 12 months and $0.50 for the remaining 12 months.

The proceeds from this financing will be used for exploration expenditures on its mineral properties in Newfoundland and general working capital. A finder's fee of up to 10% may be paid to arms length parties with respect to the private placement and 8% brokers' warrants may be issued if placed through Exchange Members.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registrations is available.

ON BEHALF OF THE BOARD OF DIRECTORS:

T. Allen Rose, Director

We seek safe harbour.

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