Explor Resources Inc.

Explor Resources Inc. (CVE:EXS) (FRA:E1H1) (OTCMKTS:EXSFF) is pleased to announce that it has closed a second tranche of a non-brokered private placement of a maximum of 5,882,353 common shares and/or flow-through shares at a price of $0.085 each, for total gross proceeds of up to CDN $500,000.

Given the relative importance of the 3,000meter drilling campaign to the Timmins Porcupine West GOLD Deposit moving forward, Dupont, and his crew, are painstakingly going over every inch of core to put the lab results into the proper perspective. One of them actually created the HMC computer model of the TPW GOLD deposit many of us have seen featured at the PDAC.

Explor Resources Inc. (CVE:EXS) (FRA:E1H1) (OTCMKTS:EXSFF) is pleased to announce that it has closed a first tranche of a non-brokered private placement of a maximum of 5,882,353 common shares and/or flow-through shares at a price of $0.085 each, for total gross proceeds of up to CDN $500,000.

We're all excited gold appears to be getting stronger lately, holding in the US$1,265-70 range. Given some of the most recent geopolitical events, it's somewhat surprising that we haven't exceeded US$1,300 as yet.

The most recent information in regards to the drill core analysis is that we are close to seeing some preliminary results. Apparently, the lab has lost a key staff member recently, which has set their entire testing system back a couple of weeks. New supervisory staff have stepped in to bridge the gap, and they are doing their utmost to deal with the increased work load.

Very nice to see gold trading a bit stronger to start the week. Optimistically, the upward trend will continue. The sad reality is the paper market will continue to dictate the price of the commodity, regardless of a diminishing supply, and growing demand in the physical gold market.

With GOLD at recent lows, its nice to see EXS/EXSFF/E1H1 holding the prevailing .065-.07 level. That represents a Market Capitalization of just over $10million CDN. Let's look at the company's 'Cap' for a minute.

FINANCE VIDEO: Explor Resources Inc. (CVE:EXS) (OTCMKTS:EXSFF) (FRA:E1H1) President Chris Dupont on Recent Drilling at Timmins as well as the East Bay and PG-101 Projects in Canada.

Four new Step-Out holes were drilled as well, denoted #124; 125; 126 & 127. #127 is still in process, but the other three were drilled to depths of 600-650meters. Most of the new core has been logged, sawed, and shipped to the lab for analysis.

The drilling at the Timmins Porcupine West (TPW) is progressing nicely. Step-Out Holes #124 & #125 have been completed to a depth of 600meters (1,968ft). Existing Hole #109 has been deepened to 900 meters.