SGX Resources Inc. Announces Closing of Private Placement Offering of Flow-Through Units

WINNIPEG, Dec. 30, 2010 (Canada NewsWire via COMTEX News Network) --

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Mr. Hugh Wynne, CEO of SGX Resources Inc. (the "Corporation"), a company listed on the TSX Venture Exchange under the symbol "SXR", today announced the closing of its previously announced private placement offering (the "Offering") of units ("Units") at a price of $3.50 per Unit. At closing the Corporation issued 768,050 Units for gross proceeds of $2,688,175. The net proceeds of the Offering will be used for continuing exploration on the Timmins gold properties of the Corporation.

Each Unit was comprised of nine common shares of the Corporation issued as "flow-through shares" within the meaning of the Income Tax Act (Canada), one regular common share of the Corporation and five common share purchase warrants ("Warrants"). Each Warrant entitles the holder thereof to purchase one common share of the Corporation at a price of $0.45 per share until July 20, 2012. The securities issued pursuant to the Offering will be restricted from transfer for a period of four months and a day in accordance with applicable securities laws.

Certain companies and individuals assisted the Corporation by introducing potential subscribers for the Offering and received a fee, payable in cash, equal to 5% of the total subscription proceeds received from subscribers introduced to the Corporation by each particular person.

No broker warrants were issued in connection with the Offering.

The closing of the Offering is subject to the final approval of the TSX Venture Exchange.

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

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SOURCE: SGX Resources Inc.

<p>Hugh Wynne, Chief Executive Officer of SGX Resources Inc., at (204) 791-1723</p>

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