GALORE CLOSES PRIVATE PLACEMENT
 
Vancouver, BC: Galore Resources Inc. (GRI-TSX-V) has closed its non-brokered private placement offering of CDN $750,000 announced on Wednesday May 2, 2012. The total number of securities issued in the financing consists of 7,500,000 Units priced at $0.10 per unit.
 
Each unit (a �Unit�) consists of one common share and one share purchase warrant (�Warrant�).  Each Warrant is exercisable into one additional common share at a price of $0.20 per share for a period of eighteen months, expiring November 24, 2013.
 
The Company has paid a cash finder�s fee of $23,000 in connection with the private placement to certain parties who were instrumental in introducing investors to the Company.  In addition, the Company issued 287,500 Finders Compensation Options, exercisable for a period of eighteen months at a price of $0.20 into 287,500 common shares and 287,500 share purchase warrants.  Each warrant issued on exercise of the Finders 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 September 26, 2012.
 
The proceeds of the placement will be used to execute an exploration program that will include drilling on Galore�s 100% owned Mexico-based Dos Santos project. Based on strong gold numbers and intercepts in 20 of 32 shallow holes announced in January of 2012 a more extensive deep-drill exploration program at El �lamo will be the focus of the upcoming program.  In addition, a portion of the proceeds will be used for general working capital.