December 08, 2006 13:04 ET

AntOro Resources Announces the Completion of Two Private Placements for a Total of $477,500

MONTREAL, QUEBEC--(CCNMatthews - Dec. 8, 2006) - AntOro Resources Inc. (TSX VENTURE:ORE) announces that, subject to regulatory approvals, it has completed two (2) private placement in the amount of $477,500 with non-related investors. The first placement is to be used for working capital purposes in an amount of $127,500. It consists in the issuance of 170 treasury units. Each treasury units consists of ten thousand (10,000) treasury common shares at $0.075 per share and ten thousand (10,000) warrants to purchase common treasury shares at a price of $0.10 per share until December 31, 2007.

The second private placement consists in the issuance of 350 flow through units at a price of $1,000 per unit. Each flow-through units consists of nine thousand (9,000) flow-through common shares and one thousand (1,000) common treasury shares, each share at $0.10 per share. Both placements were completed with investors who deal with the company at arm's length.

The treasury placement will be used for working capital purposes while the flow-through proceeds will be invested in the following AntOro exploration projects:

Andy Lake (uranium) stripping, channel saw sampling

Maro (Uranium) complete the radiometric, geochemistry and channel saw sampling surveys

Goodmorning Innes Lake (uranium) perform a tighter radiometric survey, related geochemistry and channel saw sampling surveys

Foyelet and Hemlo Diamonds (diamonds and gold) Till sampling and ground MAG and EM surveys.

In the event that some of the results from already completed exploration surveys on the above mentioned projects are inconclusive the Corporation reserves the right to redirect the flow-through funds to more promising projects.

Benoit Violette, director of AntOro, a Qualified Persons under National Instrument 43-101, has reviewed this press release after it was prepared by AntOro's management.

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

Contact Information

  • AntOro Resources Inc.
    Francois C. Desrosiers
    514-982-6044, ext. 223