Vancouver, B.C., Galore Resources Inc.

(GRI-TSX-V) closes its non-brokered private placement announced on August 26, 2010.  Subsequent to that release the Company increased the amount of the financing from 8,000,000 units with a 15% overallotment option to 10,250,000 units at a price of $0.20 per unit.  The total gross proceeds raised in this placement are $2,050,000.

Each unit (a “Unit”) consists of one common share and one share purchase warrant (a “Warrant”).  Each Warrant is exercisable into one additional common share at a price of $0.30 per share for a period of one-year, expiring September 22, 2011.

The Company has paid a cash finder’s fee of $82,920 in connection with the private placement to certain parties who were instrumental in introducing investors to the Company.

In addition, the Company issued 518,250 Finder’s Compensation Options, exercisable for a period of one-year at a price of $0.20 into 518,250 common shares and 518,250 share purchase warrants.

Each warrant issued on exercise of the Finder’s Compensation Option has the same terms as the Warrants issued in the private placement.

All securities issued by the Company in connection with the private placement are subject to a statutory hold period and may not be traded until January 22, 2011.

The proceeds of the placement will be used to expand the Company’s exploration program on its 100% owned Dos Santos project located in the historic Concepcion del Oro region of Zacatecas State, Mexico and for general working capital.

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. 

To find out more about Galore Resources, visit our website at www.galoreresources.com.

GALORE RESOURCES INC.

“Michael 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:
Tel.: 604-647-2298  or 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.