Knight Resources Ltd.: $600,000 Private Placement Closed

Mr. David Patterson, Chairman of Knight Resources Ltd. (TSX
VENTURE:KNP)(FRANKFURT:KRL) reports that the Company has closed a non-brokered
private placement in an amount of $600,000. The funds were raised through the
issuance of 2,608,695 Quebec flow-through units ("QFT Unit") at a price of
$0.115 per QFT Unit and 2,727,272 flow-through units ("FT Unit") at a price of
$0.11 per FT Unit. Each QFT Unit and each FT Unit consists of one common share
and one-half of one common share purchase warrant. Each whole warrant entitles
the holder to acquire one common share at a price of $0.15 until March 31, 2011,
and at a price of $0.20 until March 31, 2012.


The Company paid aggregate finder's fees totaling $48,000, and issued 426,878
finders' warrants on the same terms as the warrants issued as part of the FT
Units. All securities issued to subscribers and finders, including any common
shares which may be issued upon the exercise of warrants, are subject to a hold
period expiring August 1, 2010.


The funds raised by way of the financing will be used for exploration of the
West Raglan Project, located in northern Quebec.


ON BEHALF OF THE BOARD OF KNIGHT RESOURCES LTD.

David Patterson, Chairman

Knight Metals Ltd. (TSXV:KNP)
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