Tucano Exploration Inc.

Tucano Exploration Inc.

December 03, 2007 10:26 ET

Tucano Completes Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Dec. 3, 2007) -

NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES.

Tucano Exploration Inc. has completed the first tranche of its private placement offering of 5,440,000 Units at $0.50 per Unit for gross proceeds of $2,720,000. Each Unit consists of one common share and one half common share purchase warrant. Each whole warrant entitles the holder to acquire one common share, exercisable at a price of $0.75 per share until November 28, 2009. The proceeds will be used by the Company for exploration purposes as well as for general corporate purposes.

Tucano Exploration Inc. is a private Canadian company focused on exploration for precious metals in Brazil. Tucano has a strong technical team in Brazil and is currently reviewing several opportunities for property acquisitions.

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