Stone Resources completes CDN$14,782,722.30 private placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, Nov. 4, 2011 /CNW/ - Stone Resources Ltd. (TSX-V: SRH) ("Stone" or the "Company") is pleased to announce that is has completed the first tranche of its previously-announced private placement of 98,551,482 common shares ("Common Shares") at a price of CDN$0.15 per Common Share for gross proceeds of CDN$14,782,722.30 (the "Private Placement"). Upon completion of the first tranche of the Private Placement, Stone has 326,724,191 Common Shares outstanding. The second tranche of the Private Placement is expected to close in November, 2011.

The proceeds of the Private Placement were used to fund the previously announced acquisition of a majority of the shares of A1 Minerals Ltd. ("A1"), a company listed on the Australian Securities Exchange (the "A1 Acquisition"). Upon the closing of the A1 Acquisition today, Stone obtained majority control of A1 on an undiluted basis.

The Common Shares issued under the Private Placement are subject to a four-month hold period, ending March 4, 2012.

On behalf of the Board,

"Yongji Duan"

Yongji Duan
Chairman

About Stone Resources Limited

Stone Resources Limited is a company incorporated in Bermuda and listed on the TSX Venture Exchange in Canada. The Company is involved with mineral resources exploration and development. Stone Resources plans to expand and develop its business using its effective team of experts in exploration, geology, metallurgy, mine engineering, law and finance.

Cautionary Statement on Forward-Looking Statements

The information in this document contains certain forward-looking statements with respect to the Private Placement. Although management has a reasonable basis for the conclusions drawn, risk factors and uncertainties may cause actual results to differ materially from those currently anticipated in such statements. These risks and uncertainties relate to such factors as the ability of the Company to complete the second tranche of the Private Placement as expected or at all. In view of these uncertainties we caution readers not to place undue reliance on these forward-looking statements. Statements made in this document are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any statements made herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Stone Resources Limited

For further information:

Kelei Xin
Vice-President and Corporate Secretary
+1 (604) 303-9070

Profil de l'entreprise

Stone Resources Limited

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