Knight Resources Ltd.
TSX VENTURE : KNP
FRANKFURT : KRL

Knight Resources Ltd.

November 23, 2007 16:01 ET

Knight Resources Ltd.: $3.7 Million Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2007) - Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL) announces the closing of a non-brokered private placement totalling $3,700,000. These funds were raised through the issue by the Company of 9,250,000 units at a price of $0.40 per unit. Each unit is comprised of one flow-through common share and one common share purchase warrant. Each share purchase warrant entitles the holder to acquire one non flow-through common share of the Company, at a price of $0.55 per share until November 19, 2008.

Commissions totaling $276,500 were paid to various brokerage firms and arm's length companies (collectively, the "Agents") as consideration for arranging a portion of the private placement. The Company also issued non-transferable warrants to the Agents (the "Agent's Warrants"), which entitle the Agents to purchase, in the aggregate, up to 830,000 shares of the Company at a price of $0.55 per shares until November 19, 2008.

The shares issued pursuant to the private placement, and any shares to be issued on exercise of the warrants or Agent's Warrants, are subject to a hold period expiring March 20, 2008.

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.

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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