Confidence vote....PRESIDENT and VP EXPLORATION bought................... Plus in this market from announcment to closing.... only 3 days.

I'm also glad Management ONLY did a small financing here....in my opinion, this will SEE THEM THROUGH until they finish the $3,000,000 drill program at Taseko, British Columbia (already committed and paid for) and till they can diseminate the remainder of the grab and follow-up high grade gold sampling at thier Dos Santos, Mexico project near CANPLATS DISCOVERY (CPQ).

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Galore Resources Inc (C:GRI)
Shares Issued 34,328,830
Last Close 10/9/2008 $0.10
Friday October 10 2008 - News Release

Mr. Michael Byrne reports

GALORE CLOSES $276,000 PRIVATE PLACEMENT FINANCING

Galore Resources Inc. has closed its non-brokered private placement offering of $276,000.00, announced in Stockwatch on Oct. 7, 2008. The total number of securities issued in the financing consists of 2.3 million flow-through units, priced at 12 cents per unit.

Each unit consists of one flow-through common share and one-half of one non-flow-through share purchase warrant. Each whole warrant will be exercisable into one common share for a period of two years from closing of the financing, at a price of $0.30 per share in the first year and at a price of $0.40 per share in the second year.

The MineralFields Group purchased 1,140,216 of the units sold pursuant to the offering. Limited Market Dealer Inc. received a Compensation Option to purchase 114,021 non-flow-through compensation units exercisable at $0.12 for a period of two years, and was paid a finder's fee of $6,841.30. Other Compensation Options to purchase 10,000 non-flow-through compensation units were issued and $906.00 was paid to Canaccord Capital Corporation. The non-flow- through compensation units are exercisable to purchase one share and one-half of one share purchase warrant. The warrants forming part of the compensation units have the same exercise terms as the warrants issued in the private placement.

All securities issued by the Company in connection with this offering are subject to a statutory hold period which expires on February 11, 2009.

Proceeds will be used to further drill-test Galore's 48,000 hectare gold, copper and molybdenum property located immediately south of the Taseko Mines Prosperity project in southwestern B.C.

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The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 7, 2008.


Number of shares: 2.3 million flow-through shares

Purchase price: 12 cents per share

Warrants: 1.15 million share purchase warrants to purchase 1.15 million shares

Warrant exercise price: 30 cents for a one-year period and 40 cents in the second year

Hidden placees: 14 placees

Insiders: Michael Byrne, 25,667; Sivertson & Associates Consulting Ltd., 41,667; Uwe Schmidt, 83,000

Pro group: Anthony G. Ostler, 83,333

Finders' fees: $6,841.30 and 114,021 agent options payable to Limited Market Dealer Inc.; $960 and 10,000 agent options payable to Canaccord Capital Corp. (each agent option has an exercise price of 12 cents and a two-year period, and consists of one share and one-half of one share purchase warrant with the same terms as above)