November 16, 2005 11:27 ET

Mirabel Resources Inc.: Interim Financing

POINTE-CLAIRE, QUEBEC--(CCNMatthews - Nov. 16, 2005) - Mirabel Resources Inc. "Mirabel" (TSX VENTURE:RMB) announces, subject to TSX Venture exchange approval, that is has entered into a $250,000 CDN interim financing agreement with two privately owned independent companies. The interim financing shall carry an interest rate of 8% per annum for the first three months and 2% per month for each additional month. The interim financing is secured by the accounts receivable. Additionally, the agreement includes the issuance of 50,000 common shares, 450,000 warrants priced at $0.15 and 100,000 warrants priced at $0.20 for a period of 12 months.

Mirabel also announces that it has concluded a private placement for $50,000 CDN. A total of 417,000 shares were issued at a price of $0.12 per share. Proceeds of the placement will be for working capital purposes.

Additionally, Mirabel has acquired 12 claims from a local prospector in exchange for 250,000 common shares and 250,000 warrants priced at $0.20 of Mirabel. The claims are strategically located in the Denain Township, in close proximity to the Denain property.

All the securities issued in virtue of this press release will be subject to certain resale restrictions imposed under the applicable securities laws, which require that the securities not be traded for a period of four months.

Mirabel Resources Inc., is a Canadian junior exploration company actively involved in the acquisition, exploration and development of gold projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow high-grade gold bearing quartz vein properties. A TSX-V listed company Mirabel Resources trades under the symbol RMB.

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

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