Galore Resources Inc.
TSX VENTURE : GRI

Galore Resources Inc.

March 30, 2009 09:00 ET

Galore Closes $862,500 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2009) - Galore Resources Inc. (TSX VENTURE:GRI) is pleased to report that it has closed its non-brokered private-placement offering announced on March 17, 2009 (the "Offering"). The Company raised total gross proceeds of CDN $862,500 by the issuance of 8,625,000 units priced at $0.10 per unit. Each unit consists of one common share and one share-purchase warrant. Each warrant will be exercisable to purchase one additional common share at a price of $0.20 per share until March 25, 2011.

Incidental to this Offering, the Company paid a finder's fee to Presidio Financial Services Inc., comprising a cash payment of 8% of the total proceeds raised and an issuance of 1,293,750 finder's compensation options equal to 15% of the number of Units sold to investors. Each compensation option will be exercisable at a price of $0.18, for a period of 12 months from the closing of the Offering, for the purchase of one common share and one share-purchase warrant. The warrants purchased via the compensation options have the same terms as the warrants issued to investors in the Offering. All securities issued by the Company in connection with this Offering are subject to a statutory hold period of four months, which expires on July 26, 2009.

The net proceeds from this Offering will be used to drill test and further explore Galore's 100% owned, 14,000-hectare Dos Santos gold property located in Zacatecas State Mexico and for general working-capital purposes. The Dos Santos property adjoins Canplats Resources' Camino Rojo discovery and is 35 kilometres south-east of Goldcorp's massive Penasquito mine. Galore Resources has recently published a property report on Dos Santos available on its website.

Galore Resources is a British Columbia-based exploration company that has assembled a leading group of industry professionals to acquire and explore for promising exploration properties with an emphasis on gold in Mexico and base metals in British Columbia.

To find out more about Galore Resources visit our website at www.galoreresources.com.

GALORE RESOURCES INC.

Michael W. Byrne, President

Cautionary Note: The Company warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company.

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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