	Wednesday, February 28, 2007 Santoy Increases Proposed Private Placement Financing
	NR: 07-07 Santoy Resources Ltd. (TSX Venture Exchange -- SAN) announces that its proposed non-brokered private placement of 2 million Units (news release Feb. 26, 2007) will be increased to 3 million Units at a price of $1.40 CAD per Unit for a total of $4.2 million. Each unit will be comprised of one common share and one-half of one common share purchase warrant. Each full warrant will be exercisable into one common share of the Company at an exercise price of $2.15 for a period of 18 months from the closing date. The warrants will be subject to an accelerated expiry, wherein the expiry period of the warrants may be reduced, upon notice to holders and at the election of the Company, if the closing price of the shares is equal to or greater than $2.50 per share for 10 consecutive trading days. If this condition is met and the Company so elects, the exercise period will be reduced to 25 business days from the date notice is provided by the Company to the warrant holders. This financing is subject to regulatory approval and finders' fees may be paid to accredited agents on that portion of the funds raised by third parties. The shares issued under this financing will be subject to a hold period of four months plus one day from the closing date of the offering. The funds will be applied to advance uranium exploration on the recently announced Otish Mountains acquisitions (see news releases dated Jan. 9, 2007, Jan. 29, 2007 and Feb. 19, 2007) and for general working capital. About Santoy Santoy Resources Ltd. is a Canadian mining exploration company focused primarily on the energy sector. Emphasis is being placed on uranium projects in British Columbia, Saskatchewan, Manitoba, Quebec, Ontario and Central Mineral Belt of Labrador, the United States and Central America; and on coal and coal bed methane in Western Canada. A description of our properties, including maps and photographs, can be viewed on the Company's website at www.santoy.ca. On Behalf of the Board of Directors SANTOY RESOURCES LTD. "Ron Netolitzky" Ron Netolitzky, President Cautionary Statement on Forward-Looking Information The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Virginia Energy Resources Inc.

	DEVELOPMENT STAGE
	CODE : VAE.V
	ISIN : CA9278051011

Follow and Invest

Add Alert	Add to Watchlists	Add to Portfolio	Add Note

Profile Market
Indicators VALUE :
Projects & res.Press
releases Annual
report RISK :
Asset profile Contact Cpy

Virginia Energy is a gold and cobalt exploration company based in Canada.

Virginia Energy develops gold, cobalt and uranium in USA, and holds various exploration projects in Canada.

Its main asset in development is COLES HILL PROPERTY in USA and its main exploration properties are ALIMAK/DECADE, RKN/GOLDEN HEART AREA, KASMERE LAKE, HAZEMPA LAKE, FIR ISLAND, PATTYSON LAKE, DOWLER LAKE, KARPINKA LAKE, THE BOW RIVER, ATHABASCA WESCAN SANTOY JV, OTISH, HAWK RIDGE, BLIZZARD, HATCHET LAKE, MUSTANG LAKE and BINGO in Canada.

Virginia Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 8.0 millions as of today (US$ 7.2 millions, € 5.2 millions).

Its stock quote reached its highest recent level on February 23, 2007 at CA$ 8.00, and its lowest recent point on April 17, 2009 at CA$ 0.07.

Virginia Energy has 57 230 614 shares outstanding.

Legends
	Production
	Mine development
	Discovery
	Exploration
	Past producer
On Google Earth, click on the button, to show property information, and access to project page or company page.

Virginia Energy Resources Inc.

Increases Proposed Private Placement Financing

Virginia Energy Resources Inc.