Galore Closes Private Placement
FOR IMMEDIATE RELEASE OCTOBER 29, 2010
GALORE CLOSES PRIVATE PLACEMENT
Vancouver, BC: Galore Resources Inc. (GRI-TSX-V) has closed its non-brokered private placement offering of CDN $150,000 announced on October 15, 2010. The total number of securities issued in the financing consists of 500,000 shares priced at $0.30 per share.
There are no commissions being paid or agents’ options issued on this placement.
All shares issued by the company in connection with the private placement are subject to a statutory hold period which expires February 23, 2011.
Proceeds will be used to carry out an airborne survey on the Company’s Taseko property in southwestern British Columbia. The Company has contracted Geotech Ltd. of Aurora, Ontario to conduct a 1,500 line kilometer ZTEM airborne survey over key exploration targets on its Taseko property.
Galore Resources is a British Columbia-based exploration company that has assembled a leading group of industry professionals to acquire and explore for promising deposits with an emphasis on gold in Mexico and base metals in British Columbia.
“Michael W. Byrne”
President
For progress updates and queries on Galore Resources Inc. (TSX.V -GRI) please contact:
Erica C Bearss, MBA Vice President Corporate Communications Email: [email protected]
Tel.: 604-647-2298 Toll Free: 1-877-647-2298 Skype: 1-206-388-2423 Fax: 604-647-0086
Cautionary Note Regarding Forward-Looking Information: The Company expressly warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company. No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein. 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.