Explorator Resources Inc. announces closing of non-brokered private placements



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
    SERVICES/

    CALGARY, Jan. 30 /CNW/ - Explorator Resources Inc. ("Explorator" or the
"Company") ("TSX-V: EXO") is pleased to announce that on January 30, 2007 it
closed the US portion of its previously announced private placement financing
through the issuance of 2,410,000 Units of Explorator (the "Units") at a price
of $0.25 per Unit for gross proceeds of $602,500.
    Each Unit consists of one (1) Common Share (a "Common Share") and one
non-transferable Common Share Purchase Warrant (a "Warrant"), each whole
Warrant entitling the holder thereof to purchase one (1) additional Common
Share at a price of $0.30 for a period of eighteen months from the date of
issue. All of the Common Shares and Warrants issued pursuant to the brokered
and the non-brokered private placements are subject to four month hold periods
which expire on May 30, 2007.
    In addition, the Company has issued options to purchase 750,000 common
shares at an exercise price of $0.50 and valid for a period of five years to
officers, directors and consultants of the Company, subject to regulatory
approval.

    THE TSX VENTURE EXCHANGE INC. HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE





For further information:

For further information: Explorator Resources Inc. - David O'Connor,
Phone: (56) 9844-96577, Fax: (56) 2243-8688; Maximus Resources, Chile SA -
David O'Connor, Phone: (56) 9844-96577, Fax: (56) 2243-8688

Organization Profile

EXPLORATOR RESOURCES INC.

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