Vancouver, B.C., Galore Resources Inc. announced that it has entered into an Exploitation Agreement between Oztoc Metal Corporation S. de R.L. de C.V. ("OZTOC") and Galore's wholly owned subsidiary Minerales Galore S.A. De CV. ("Minerales Galore"). This Exploitation Agreement is an agreement for mining operation services to "reengage" the mining activities that the previous tenant, URBYASA, was conducting.

The Company has entered into a 5-year contract with OZTOC to extract available gold at Galore's 100% owned Duraznillo Ranch, which includes the mining concessions Los Gemelos I and Duende 7 ("Mineral Claims") and jointly with Duraznillo Ranch will now be referred to as theDuraznillo Mine. Mr. Francisco Garza Vargas, who participated in Galore's recent private placement financing, is an insider by his shareholdings of 13.09% of the total issued and outstanding common shares of Galore, and he owns a minority position of 45% in OZTOC.Under the Exploitation Agreement, Galore will maintain 100% legal interest and title in the Duraznillo Mine. This Agreement is a service agreement, whereas OZTOC is providing mining and operational services to Minerals Galore.

This Agreement provides for a 30% split of the Gross Revenues in favour of Galore after payment of government duties and taxes, with the balance of 70% going to OZTOC for (i) its expenses related to the development and production of the Duraznillo Mine and (ii) profit from the production of the Duraznillo Mine. All equipment, maintenance, personnel, permits, fees, expenditures and any and all cost associated with the mining activities covering the Duraznillo Mine are the responsibility of OZTOC. Galore retains the right to conduct any and all exploration activities in the Mineral Claims to further Galore's technical data base, which may be used by OZTOC to aid in understanding of the local geology in its operation.

All proceeds from the sale of concentrated material will be handled by an independent third-party fiduciary to ensure the integrity.