Knight Resources Ltd.
TSX VENTURE : KNP
FRANKFURT : KRL

Knight Resources Ltd.

December 03, 2007 19:05 ET

Knight Resources Ltd.: Final Closing of $4 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Knight Resources Ltd. (TSX VENTURE:KNP)(FRANKFURT:KRL) announces the closing of the final tranche of a non-brokered private placement totalling $4,000,000. In the final tranche, $300,000 was raised through the issuance of 750,000 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 28, 2008.

The shares issued in the final tranche of the private placement, and any shares to be issued on exercise of the warrants, are subject to a hold period expiring March 29, 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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