CALGARY, ALBERTA--(Marketwired - Nov. 9, 2015) -


Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Corporation") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement financing (the "Offering") of units ("Units") of the Corporation at a price of $0.20 per Unit. An aggregate of 750,000 Units were issued on closing of the first tranche of the Offering, with each Unit consisting of one common share ("Common Share") of the Corporation and one half of one (0.5) Common Share purchase warrant ("Warrant") of the Corporation. Each whole Warrant will be exercisable by the holder thereof at a price of $0.30 per Warrant for a period of two years from November 6, 2015.

Margaux expects to use the proceeds of the Offering towards the payments owing to Sultan Minerals Inc. pursuant to an option agreement dated November 8, 2013, as amended October 30, 2015, and for general working capital purposes. The Units issued in the first tranche of the Offering are subject to a four-month hold period under applicable securities laws, which hold period expires on March 7, 2016.

About Margaux Resources Ltd.: Margaux is based in Calgary, Alberta and a publicly traded resource company with oil and gas exploration and production and an option on the Jersey Emerald Tungsten-Zinc Property.

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 this press release.

Cautionary Statements

This news 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 news release contains statements concerning the anticipated use of the proceeds of the Offering, the ability of the Corporation to close additional tranches of the Offering and the timing of closing of additional tranches of the Offering.

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 intended use of the proceeds of the Offering 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 purpose. There can be no assurance that the Corporation will close additional tranches of the Offering in the amounts it anticipates, the timeframe it anticipates or at all.

The forward-looking statements contained in this news 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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Margaux in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. Person absent registration or an applicable exemption from the registration requirements of such Act or laws.

Contact Information:

Tyler Rice
(403) 537-5590