Knight Resources Ltd.
TSX VENTURE : KNP
FRANKFURT : KRL

Knight Resources Ltd.

October 26, 2006 19:56 ET

Knight Resources Ltd.: Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2006) - Mr. David Patterson, Chief Executive Officer of Knight Resources Ltd. (TSX VENTURE:KNP)(FWB:KRL), announces the closing of its private placement totalling $600,000. These funds were raised by the Company issuing 2,500,000 units at a price of $0.24 per unit, each unit consisting of one flow-through common share and one-half of one common share purchase warrant. Each whole share purchase warrant entitles the holder to acquire one additional non flow-through common share of the company at a price of $0.29 until October 18, 2007. The shares, and any shares to be issued upon the exercise of the warrants, are subject to a hold period expiring February 20, 2007.

Desjardins Securities Inc., of Montreal, Quebec, received 6% of the proceeds raised as a commission for arranging the private placement.

ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.

David Patterson, Chief Executive Officer


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

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