Galore Resources Inc.
TSX VENTURE : GRI

Galore Resources Inc.

March 17, 2009 16:30 ET

Galore Announces $750,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2009) - Galore Resources Inc. (TSX VENTURE:GRI) announces a non-brokered private placement of up to 7,500,000 units at $0.10 per unit with an overallotment option of an additional 15% or 1,125,000 units. Each unit (a "Unit") will consist of one common share and one share purchase warrant. Each warrant will be exercisable to purchase one common share at a price of $0.20 per share for a period of 24 months from the closing of the financing.

The Company has agreed to pay a finders fee in connection with the private placement comprised of a cash payment in an amount equal to 8% of the amount raised and the issuance of finder's compensation options exercisable into that number of Units as is equal to 15% of the number of Units sold to investors. Each compensation option will be exercisable for a period of 12 months from the closing of the financing at a price of $0.18 per Unit.

The net proceeds will be used to percussion-drill test and further explore the Company's 100% owned, 14,000-hectare highly prospective Dos Santos gold property and for general working capital. The Dos Santos property is located in the historic Concepcion del Oro region of Zacatecas State, Mexico.

The private placement and finder's fee are subject to acceptance by the TSX Venture Exchange.

GALORE RESOURCES INC.

Michael Byrne, President

Neither the 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.

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