CALGARY, ALBERTA--(Marketwired - Oct. 16, 2013) - Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Corporation") is pleased to announce that it has commenced a non-brokered private placement offering for up to $750,000 (the "Private Placement"). The Corporation will issue up to 9,375,000 common shares ("Common Shares") to exempt buyers on a private placement basis at a price of $0.08 per Common Share.

Proceeds from the Private Placement will be used to further the Corporation's operations and for general working capital purposes. The Private Placement is expected to close in one or more closings on or before November 7, 2013.

The securities issued pursuant to the Private Placement will be subject to a four-month hold period from the applicable closing date.

The Private Placement is subject to approval from the TSX Venture Exchange.

FORWARD-LOOKING INFORMATION

This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated timing of the closing or closings of the Private Placement and the anticipated use of the proceeds of the Private Placement.

Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements and information but which may prove to be incorrect. Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The closing of the Private Placement could be delayed if Margaux is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned. The Private Placement will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Private Placement will not be completed within the anticipated time or at all. The intended use of the proceeds of the Private Placement by Margaux might change if the board of directors of the Corporation determines that it would be in the best interests of Margaux to deploy the proceeds for some other purposes.

The forward-looking statements contained in this press release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither 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 this release.