Stellar Pacific Ventures Inc.
TSX VENTURE : SPX

Stellar Pacific Ventures Inc.

November 30, 2010 11:46 ET

Stellar Pacific Ventures Inc.: Common Share Units and Flow-Through Units Offering Announced

MONTREAL, QUEBEC--(Marketwire - Nov. 30, 2010) - Stellar Pacific Ventures Inc. (the "Company")(TSX VENTURE:SPX) has entered into an agreement with Jones, Gable & Company Limited ("Jones, Gable") in respect of a brokered private placement financing consisting of up to 800 common share units (the " A Units") at a purchase price of $800 per A Unit and of up to 1,250 flow-through share units (the "B Units") at a purchase price of $980 per B Unit to raise total gross proceeds of up to $1,865,000 (the "Private Placement") on a commercially reasonable effort agency basis for accredited investors only.

The A Units will consist of ten thousand (10,000) common shares at a price of $0.08 per share and five thousand (5,000) common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of twenty four months from the date of issuance, at a purchase price of $0.15 per share.

The B Units will consist of nine thousand (9,000) flow-through common shares at a price of $0.10 per share, one thousand (1,000) common shares at a price of $0.08 per share and five thousand (5,000) common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of twenty four months from the date of issuance, at a purchase price of $0.18 per share.

Proceeds of the Units will be used for general working capital purposes and to incur general exploration expenses in Quebec. The expenses will constitute Canadian exploration expenses and flow-through mining expenditures (as defined in the Income Tax Act (Canada)), which can be renounced to purchasers for the 2010 taxation year.

Certain directors, officers and insiders of the Company may participate in the Private Placement. The securities issued will be subject to a hold period of four months and one day.

Proceeds of the Private Placement will be used for the development of the Chibougamau based Monster Lake project. As announced previously, a 10,000 meters drill program is currently in progress on four gold targets and the company anticipates a resource calculation following the completion of the program. The company is also planning a resource calculation following the drilling of the 4 Solotomo identified structures in Guinea. A118 holes RC drill program totaling 7,670 meters is schedule to start in mid-December and will enable the company to confirm the vertical extension and grades of the large mineralized zone observed on surface.

The Private Placement will be subject to approval by the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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