Stinger Resources arranges $160,000 private placement

Mr. Darren Blaney reports STINGER RESOURCES INC. ANNOUNCES $160,000 PRIVATE PLACEMENT Stinger Resources Inc. has proposed to undertake an up to $160,000 non-brokered private placement of up to 3.2 million units to be sold to eligible purchasers at a price of five cents per unit. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of six cents at any time on or before that date which is 24 months after the closing date of the offering. The units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. The proceeds received from the sale of the units will be used for general working capital. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the Canadian Securities Exchange and applicable securities laws. It is anticipated that insiders of the company will participate in the offering. The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Such insider participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the company is not listed on any of the exchanges or markets outlined in Subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders will not exceed 25 per cent of the company's market capitalization. About Stinger Resources Inc. Stinger Resources holds interests in gold and silver properties in British Columbia, including the 100-per-cent-owned, past-producing Dunwell mine which is located near Stewart in the prolific Golden Triangle. The company also holds a 100-per-cent interest in the Gold Hill property located in the headwaters of the Wild Horse River near Fort Steele. In addition, Stinger Resources owns 100 per cent of the Silver Side property, as well as an optioned interest in the Ample Goldmax property located in other areas of the province of British Columbia. We seek Safe Harbor.