Ressources Minières Pro-Or Inc.

Ressources Minières Pro-Or Inc.

July 09, 2008 09:00 ET

Ressources Minieres Pro-Or Inc.: Private Placement of $1,100,000

MONTREAL, QUEBEC--(Marketwire - July 9, 2008) - Ressources Minieres Pro-Or Inc. (TSX VENTURE:POI) wishes to announce that it is proceeding with a private placement of a maximum of 200 units at $5,500.00 per unit.

Each unit is made up of 10,000 class "A" shares at $0.55 each and 10,000 share purchase warrants, each warrant entitling the holder to purchase one class A share at $0.80 for a 12-month period.

Proceeds from the private placement will be used for working capital and particularly for the St-Augustin's Plant operations.

This private placement is being offered to qualified investors only. Shares issued pursuant to the offering will be subject to a four-month hold period. The company is not planning to pay any finders' fee on the transaction, which is subject to regulatory approval.

"About Pro-Or"

Founded in 1986, Pro-Or is active at its plant in St-Augustin-de-Desmaures and the testing stage is completed. During this phase of development, about 1,200kg of recycled automotive catalytic converters were processed and Pro-Or has recovered platinum group elements (Pt, Pd, Rh) for approximately $130,000. The plant will soon pass to the active phase of production and the management will issue a press release to that effect in the upcoming weeks.

Pro-Or is focusing its exploration activities on the Menarik property in the James Bay region, which contains a deposit of chromite enriched with platinum group metals (PGMs). The property also offers significant potential for gold, nickel and copper. There is currently a team of three geologists along with two technicians, supervised by Yvan Bussieres, engineer-geologist and qualified person, working on the property, on those geophysical anomalies.

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

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