Funds to Advance Timmins South Exploration Programs

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WINNIPEG, March 15, 2012 /CNW/ - SGX Resources Inc. (TSX-V: SXR) (the "Company"), in connection with its previously announced private placement of flow-through units ("FT Units") and units ("HD Units"), is pleased to announce that the Company and the syndicate led by Primary Capital Inc. and including Scotiabank, M Partners Inc., and Stonecap Securities Inc. (collectively the "Agents"), have agreed to increase the size of the offering by up to a further $4.0 million, for aggregate gross proceeds of up to $12.0M. All other terms and conditions remain the same as previously announced.

Closing of the offering is scheduled to occur on or about March 27, 2012. All securities issued will be subject to a four month hold period. The offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

The gross proceeds from the sale of the FT Units shall be used for Canadian exploration expenses and the net proceeds from the sale of the HD Units shall be used for general working capital purposes.

These securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.