Metalore Resources Ltd. - News Release


    TORONTO, Aug. 13 /CNW/ - Although new accounting guidelines have required
the Company to write off, accrue debt and expense more entries, slightly
higher Natural Gas prices have enabled Metalore Resources Limited to improve
its First Quarter Net Earnings to 10 cents per share compared to 8 cents per
share for the corresponding previous Fiscal Period.
    The Company continues to strengthen its Financial Position. With a
portfolio of high yielding marketable securities at an all time high and
current liabilities at a several year low, Metalore's Current Ration
(assests/liabilities) has been improved from 3.0 to 1 to 3.6 to 1.
    Complete Financial Statements and Management's Discussion and Analysis
(MD&A) may be viewed on the SEDAR website after August 14/08.

For further information:

For further information: or to receive a hard copy of the above filing,
please contact George Chilian, CEO, at (519) 428-2464 or Joe Maksymchuk, CFO
at (519) 756-7798

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