Knight Resources Ltd.
TSX VENTURE : KNP

Knight Resources Ltd.

May 18, 2010 17:45 ET

Knight Resources Ltd.: Balance of Non-Brokered Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2010) -

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

Mr. David Patterson, Chairman of Knight Resources Ltd. (TSX VENTURE:KNP), reports that the Company has received $198,000 through the closing of the third and final tranche of a non-brokered private placement. The funds were raised through the issuance of 1,800,000 flow-through units ("FT Unit") at a price of $0.11 per FT Unit. Each FT Unit consists of one common share and one-half of one common share purchase warrant.

The 1,800,000 shares issued are subject to a hold period expiring September 11, 2010. The 900,000 warrants issued entitle the holder to acquire one common share at a price of $0.15 until May 10, 2011, and at a price of $0.20 until May 10, 2012.

The funds raised by way of the financing will be used for exploration of the West Raglan Project, located in northern Québec.

ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.

David Patterson, Chairman

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 news release.

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