Stone Resources completes CDN$14,782,722.30 private placement

    




 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE  UNITED STATES./ 

 VANCOUVER, Nov. 4, 2011 /CNW/ - Stone Resources Ltd.   ("Stone" or the "Company") is pleased to announce that is has completed  the first tranche of its previously-announced private placement of  98,551,482 common shares ("Common Shares") at a price of CDN$0.15 per  Common Share for gross proceeds of CDN$14,782,722.30 (the "Private  Placement"). Upon completion of the first tranche of the Private  Placement, Stone has 326,724,191 Common Shares outstanding. The second  tranche of the Private Placement is expected to close in November,  2011. 

 The proceeds of the Private Placement were used to fund the previously  announced acquisition of a majority of the shares of A1 Minerals Ltd.  ("A1"), a company listed on the Australian Securities Exchange (the "A1  Acquisition"). Upon the closing of the A1 Acquisition today, Stone  obtained majority control of A1 on an undiluted basis. 

 The Common Shares issued under the Private Placement are subject to a  four-month hold period, ending March 4, 2012. 

 On behalf of the Board, 

 "Yongji Duan" 

 Yongji Duan  Chairman 

 About Stone Resources Limited 

 Stone Resources Limited is a company incorporated in Bermuda and listed  on the TSX Venture Exchange in Canada. The Company is involved with  mineral resources exploration and development. Stone Resources plans to  expand and develop its business using its effective team of experts in  exploration, geology, metallurgy, mine engineering, law and finance. 

 Cautionary Statement on Forward-Looking Statements 

 The information in this document contains certain forward-looking  statements with respect to the Private Placement. Although management  has a reasonable basis for the conclusions drawn, risk factors and  uncertainties may cause actual results to differ materially from those  currently anticipated in such statements. These risks and uncertainties  relate to such factors as the ability of the Company to complete the  second tranche of the Private Placement as expected or at all. In view  of these uncertainties we caution readers not to place undue reliance  on these forward-looking statements. Statements made in this document  are made as of the date hereof and the Company disclaims any intention  or obligation to update or revise any statements made herein, except in  accordance with applicable securities laws. 

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

Stone Resources Limited


CONTACT:  Kelei XinVice-President and Corporate Secretary+1 [phone] 


    

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