Galore Resources Inc.

Galore Resources Inc.

December 16, 2011 16:21 ET

Galore Resources Closes Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2011) - Galore Resources Inc. (TSX VENTURE:GRI) announces it has closed its non-brokered private placement offering of CDN $404,900 announced on November 4, and December 8, 2011. The total number of securities issued in the financing consists of 2,699,334 flow through common shares priced at $0.15 per share.

The Company paid an 8% cash finder's fee to a finder in connection with $300,000 of the private placement.

All securities issued by the Company in connection with the private placement are subject to a statutory hold period and may not be traded until April 16, 2012.

Proceeds of the financing will be used to carry out an extensive exploration program on the Company's Taseko property in southwestern British Columbia. The Company has contracted Geotech Ltd. of Aurora, Ontario to complete a ZTEM airborne survey over key exploration targets on the property.

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

Michael W. Byrne, President

For progress updates and queries on Galore Resources Inc. (TSX VENTURE:GRI) contact Erica C. Bearss via the contact information listed below.

"Explore. Drill. Discover"

Cautionary Note Regarding Forward-Looking Information: The Company expressly 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.

No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein. 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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