Renforth Resources Inc.

Renforth Resources Inc.

November 16, 2006 10:56 ET

Renforth Resources Inc. Completes an $845,000 Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - Nov. 16, 2006) - Renforth Resources Inc. ("Renforth") is pleased to announce that it has completed a non-Brokered private placement financing for gross proceeds of $845,000.

The Company will issue 169,000 units. Each Unit consisting of one (1) non flow-through common share (the "Non Flow-Through Shares") and four (4) flow-through common shares (the "Flow-Through Shares") of Renforth, at a purchase price of $2.50 per Unit. The allocation of the Subscription Price will be on the basis of (i) $0.50 for each Non Flow-Through Share issued hereunder and (ii) $0.50 for each Flow-Through Share issued.

Renforth will pay a finder's fee in respect of the placement in an amount equal to 10% of the gross proceeds raised. All securities issued pursuant to the private placement will be subject to a four month hold period following the closing date.


Renforth Resources Inc. is a junior resource company focused on exploration and development of diamond mining. Renforth is specifically focused on diamond exploration and is one of the largest land holders in the Attawapiskat region of the James Bay Lowlands. This area is being explored for base metals by a number of exploration companies as well as diamonds. DeBeers is developing the Victor diamond mine in the area.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

Neither the TSX Venture Exchange, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

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