Channel Resources Closes Private Placement Financing

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES.

Channel Resources Ltd. ("Channel") (TSX VENTURE:CHU) announces the completion of
the previously announced private placement (the "Private Placement") of
29,650,936 common shares (the "Common Shares") in the capital of Channel. The
Common Shares were issued to West African Resources Limited ("West African") at
a price of $0.05 per Common Share for gross proceeds of $1,482,546.80. As a
result of the Private Placement, West African now own 19.9% of the Common Shares
of Channel.


Gross proceeds of the Private Placement will be used for working capital
purposes and to fund transaction costs in connection with West African's
intended acquisition of Channel by way of a plan of arrangement, as previously
disclosed in a joint news release dated August 14, 2013.


The Private Placement remains subject only to satisfactory customary regulatory
review of the Company's post-completion filings with the TSX Venture Exchange.


The securities will be subject to a resale restriction for a period of four
months plus one day, expiring on January 6, 2014. 


About Channel Resources Ltd.

Channel is a mineral exploration company with a portfolio of properties that
includes the Tanlouka gold project in Burkina Faso, West Africa and a
mineral-bearing brine property in Alberta, Canada. Channel's Tanlouka Project
has been its primary focus and the company has advanced it rapidly from initial
discovery in 2010 to the publication in 2012 of a maiden resource estimate for
the Mankarga 5 target. Channel has set the stage for the continued expansion of
Mankarga 5 as well as for potential new discoveries on mineralized targets in
the north and central regions of the Tanlouka permit, allowing for significant
exploration upside. Existing infrastructure in the area together with that
introduced by Channel during its exploration programs will allow for work to
proceed quickly to both expand the project as well as to assess the potential
for its development.


Further information on Channel is available on the company's website at
http://www.channelresources.ca.


Some of the statements contained herein are forward-looking statements which
involve known and unknown risks and uncertainties. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. The following are important
factors that could cause the Company's actual results to differ materially from
those expressed or implied by such forward looking statements: changes in the
price of minerals, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty of
access to additional capital. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking statements or the foregoing
list of factors, whether as a result of new information or future events or
otherwise. Further disclosure on risk factors is available in the Company's
various corporate filings at www.sedar.com.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Channel Resources Ltd.
Colin McAleenan
President & CEO
604.684.7098
[e-mail]
www.channelresources.ca