Knight Resources Ltd.
TSX VENTURE : KNP
FRANKFURT : KRL

Knight Resources Ltd.

June 06, 2007 17:18 ET

Knight Resources Ltd.: $2.6 Million Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2007) -

NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL) announces the closing of its non-brokered private placement totalling $2,636,919. These funds were raised through the issue by the Company of 8,789,730 units at a price of $0.30 per unit. Each unit consists of one common share and one share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.40 per share until May 24, 2008, and thereafter at a price of $0.60 per share until May 24, 2009. Of the 8,789,730 units issued, 6,643,230 are flow-through units consisting of one flow-through common share and one non-flow-through warrant.

Commissions totaling $123,104 were paid to various brokerage firms and arm's length individuals (collectively, the "Agents") as consideration for arranging a portion of the private placement. The Company also issued non-transferable options to the Agents (the "Agent's Options"), which entitle the Agents to purchase, in the aggregate, up to 553,683 units of the Company at a price of $0.30 per unit until May 24, 2009, each unit consisting of one common share and one non-transferable share purchase warrant (the "Agent's Warrants"). Each Agent's Warrant entitles the Agents to acquire one additional common share of the Company at a price of $0.40 per share until May 24, 2008, and thereafter at a price of $0.60 per share until May 24, 2009.

The shares issued pursuant to the private placement, and any shares to be issued on exercise of the warrants or Agent's Options, are subject to a hold period expiring September 25, 2007.

The funds raised by way of the private placement will be used for exploration programs on the Company's West Raglan Project, located in northern Quebec and for general working capital.

ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.

David Patterson, Chairman

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

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