Mr. Chris Donaldson reports

VALKEA UPSIZES PRIVATE PLACEMENT TO C$4 MILLION

Valkea Resources Corp. has increased the size of its previously announced non-brokered private placement from $3-million to gross proceeds of up to $4-million.

The upsized offering will consist of up to 16 million units of the company at a price of $0.25 per unit. Each unit comprises one common share of the company and one-half of one common share purchase warrant of the company.

Each warrant will entitle the holder to purchase one common share of the company at an exercise price of 35 cents for a period of 18 months following the closing date of the financing, provided that, if, following the date that is four months from the closing date of the financing, the closing price of the shares on the TSX Venture Exchange, or other such Canadian stock exchange on which the shares are then principally traded, equals or exceeds 50 cents per share, for a period of 10 consecutive trading days during the exercise period, the company may accelerate the expiry date of the warrants to the date which is 30 trading days from the date notice is given by the company, by way of dissemination of a news release, to the holders of the warrants.

The financing remains subject to TSX-V approval.

In connection with the financing, the company may pay finders' fees up to 6-per-cent cash and up to 6 per cent in finders' warrants to eligible finders. Closing of the financing is subject to receipt of all necessary approvals, including that of the board of directors and the TSX-V.

Proceeds from the financing will be used for exploration and working capital purposes.

All the securities issuable under the financing will be subject to a four-month hold period from the date of closing of the financing.

About Valkea Resources Corp.

Valkea Resources is at the forefront of gold exploration in Finland's highly prospective Central Lapland greenstone belt (CLGB). With an extensive portfolio of high-potential projects, including the flagship Paana project, Valkea Resources is committed to discovering and advancing significant gold deposits in one of the world's emerging gold districts.

We seek Safe Harbor.