Galore Resources Inc.

Galore Resources Inc.

December 10, 2007 13:36 ET

Galore Closes Cdn$3.5 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2007) - Galore Resources Inc. (TSX VENTURE:GRI), announces that it has closed its non-brokered private placement offering of Cdn$3.5 million, announced on November 8, 2007. The total number of securities issued in the financing consists of 7,383,509 flow-through units priced at $0.475.

Each unit consists of one flow-through common share and one-half of one non-flow-through share purchase warrant. Each whole warrant is exercisable into one common share at a price of $0.70 for a period of two years after closing.

The MineralFields Group participated as to 2,115,787 units and Limited Market Dealers Inc. received a compensation option to purchase 211,579 non-flow-through units for a period of two years and $82,209. Other agents options to purchase 387,659 non-flow-through units were also issued to various agents. The non-flow-through units are exercisable to purchase one share and one-half of one share purchase warrant. The warrants have the same terms as the private placement.

The securities issued by the Company in connection with this offering are subject to a statutory hold period which expires on April 5, 2008.

Proceeds will be used to further drill-test Galore's 48,000 hectare gold, copper and molybdenum property located immediately south of the Taseko Mines Prosperity project in southwestern B.C.

Core from a six hole drill program, completed in November 2007, has been submitted to Acme Analytical Laboratories Ltd. in Vancouver for assaying. Results are expected in early 2008.

To find out more about Galore Resources Inc., visit our website at

About MineralFields and Pathway

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about the MineralFields Group is available at


Michael Byrne, President

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

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