ROUYN-NORANDA, QUEBEC--(Marketwire - Dec. 6, 2010) - EXPLOR RESOURCES INC. ("Explor" or the "Company")(TSX VENTURE:EXS - News) is pleased to announce a brokered private placement of up to 2,000,000 units of Explor to raise aggregate gross proceeds of up to CDN$1,000,000 (the "Offering") and up to 2,000,000 units to be issued on a flow-through basis to raise aggregate gross proceeds of up to CDN$1,000,000 (the "Concurrent Flow-Through Offering", and when referred to collectively with the Offering, the "Private Placement"). The Private Placement is comprised of (i) units of Explor to be issued on a non-flow-through basis (the "Units") at a price of $0.50 per Unit, where each Unit is comprised of one common share in the capital of the Company (a "Common Share") and one common share purchase warrant (a "Warrant") and (ii) units of Explor to be issued on a flow-through basis (the "Flow-Through Units") at a price of $0.50 per Flow-Through Unit, where each Flow-Through Unit is comprised of one flow-through Common Share (a "Flow-Through Common Share") and one-half (1/2) of one Warrant. Each whole Warrant comprised within the Units or Flow-Through Units entitles the subscriber to purchase one additional non flow-through Common Share at a price of $0.70 per Common Share for a period of 24 months from the date of closing.

The Company has engaged Union Securities as agent (the "Agent") to source subscribers for the Units and Flow-Through Units offered for sale under the Private Placement. The Agent will receive (i) a cash commission of 8% of the aggregate gross proceeds received from the sale of Units and Flow-Through Units, and (ii) non-transferable compensation options to acquire such number of units equal to 10% of the aggregate number of Units and Flow-Through Units sold under the Private Placement.

The Company has also granted the Agent an over-allotment option (the "Over-Allotment Option") to increase the size of the Private Placement by up to an additional $1,000,000 in Units, Flow-Through Units or any combination thereof, exercisable at any time on or before two days prior to the closing date of the Private Placement, at the issue price.

The securities that will be issued pursuant to this Private Placement will be subject to a hold period of four months and a day from the date of closing. This placement is subject to the approval of the TSX Venture Exchange.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture Exchange (EXS).

This press release was prepared by Explor Resources Inc. Neither 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.