Explor Resources Inc.
TSX VENTURE : EXS
PINK SHEETS : EXSFF
FRANKFURT : E1H

Explor Resources Inc.

May 03, 2011 08:00 ET

Explor Resources Inc.: Private Placement

ROUYN-NORANDA, CANADA--(Marketwire - May 3, 2011) -Explor Resources Inc.(TSX VENTURE:EXS)(PINK SHEETS:EXSFF)(FRANKFURT:E1H) ("Explor" or the "Company") announces its intention to realize a private placement with the subscribers that have participated in the December 2009 private placement, for a maximum number of 6,752,233 common shares at a price of $0.75 per share, representing a total amount of $5,064,175. Each common share subscribed will give the right to receive one half (½) of a warrant. One whole warrant and the amount of $1.00 will be required to acquire one additional common share of the Company for a period of 12 month following the closing. The private placement will take place from May 3nd to May 27.

The warrants issued pursuant to the Private Placement are subject to a hold period of four months and a day from the date of closing. This placement is subject to the final approval of the TSX Venture Exchange.

This Press Release, required by applicable Canadian laws, is not for distribution to U.S. News Services or for dissemination in the United States and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state Securities Laws, and may not be offered or sold in the United States or to U.S. Persons unless registered or exempt therefrom.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt Stock Exchange (E1H).

This press release was prepared by Explor Resources Inc. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The Belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    888-997-4630 or 819-797-4630
    819-797-6050 (FAX)
    www.explorresources.com

    Stratastar Marketing Group LLC
    Investor Relations: Gary Lindsey
    1-720-273-6224