Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) is pleased to announce that it intends to commence a non-brokered private placement to raise gross proceeds of up to USD $1,500,000.00 (the “Offering”). The private placement will consist of up to 40,200,000 units, using the conversion rate of ($1 USD = $1.34 CAD) at a price of CAD $0.05 per unit (the “Units”), with each Unit consisting of one common share and one share purchase warrant (a “Warrant”). Each warrant will be exercisable into one additional common share at a price of CAD $0.10 per share for a period of two years from the date of closing of the financing. At the discretion of the Company, Warrants will be subject to an accelerated expiry, such that if the closing price equals or exceeds $0.15 per share for 10 consecutive trading days, then the Company will provide notice to the warrant holders that the exercise period of the Warrants shall be reduced to 30 days, with the reduced period commencing seven calendar days following the tenth consecutive trading day.