Mr. Steve Williams reports

PASINEX RESOURCES LTD. CLOSES A NON-BROKERED PRIVATE PLACEMENT

Pasinex Resources Ltd. has closed a non-brokered private placement of 910,000 units at a subscription price of 11 cents per unit to eligible subscribers for gross proceeds of up to $100,100.

Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant will be exercisable into one additional common share of the company at 18 cents per warrant share for a period of two years from the closing.

The securities issued or issuable pursuant to the private placement will be restricted from trading for a four-month hold period, in accordance with applicable securities laws and, if required, the policies of the exchange.

The proceeds of this private placement are for the company's general and administrative expenses, as well as for continuing exploration activity on the Pinargozu zinc-lead project in Adana province, Turkey. Pinargozu is a joint venture 50 per cent owned by Pasinex's partner in Adana, Akmetal Madencilik San ve Tic AS.

We seek Safe Harbor.