Explor Resources Inc.: Private Placement

ROUYN-NORANDA, CANADA -- (Marketwire) -- 06/06/11 -- Explor Resources Inc. ('Explor' or the 'Company')(TSX VENTURE: EXS)(PINK SHEETS: EXSFF)(FRANKFURT: E1H) announces that the planned private placement with the subscribers that had participated in the December 2009 private placement, for a maximum number of 6,752,233 common shares at a price of $0.75 per share, representing a total amount of $5,064,175 has not taken place as scheduled. Since the market price of the shares was not higher that the exercise price of the warrants issued in 2009, no subscriber opted to exercise his/her warrants during the period in which the private placement was to be taken place. Consequently, the Company has cancelled this private placement.

Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the USA Pink Sheet (EXSFF) and on the Frankfurt Stock Exchange (E1H).

This press release was prepared by Explor Resources Inc. 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.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The Belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Contacts:

Explor Resources Inc.

Christian Dupont, President

888-997-4630 or 819-797-4630

819-797-6050 (FAX)
www.explorresources.com


Investor Relations:

Gary Lindsey

Stratastar Marketing Group LLC

1-720-273-6224