GCR Gespeg Resources Ltd

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES 


GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the "Company" or "Gespeg"),
announces that it intends to conduct a non-brokered private placement of up to
20,000,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds
of up to $1,000,000 (the "Offering"). Each Unit will consist of one common share
of the Company (a "Common Share") and one-half of a Common Share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder
thereof to purchase one Common Share at a price of $0.15 for a period of 18
months from the closing of the Offering, subject to the acceleration provision
described below. The Units will be made available by way of prospectus
exemptions in Canada and in such other jurisdictions as the Company may agree
where the Units can be issued on a private placement basis, exempt from any
prospectus, registration or other similar requirements. 


The Company will be entitled to accelerate the expiry date of the Warrants to
the date that is 30 days following the date the Company issues a news release
announcing that the published closing price of the Common Shares on the TSX
Venture Exchange (the "Exchange") has been equal to or greater than $0.20 for
any ten consecutive trading days after the hold period on the Common Shares has
expired. 


The Company may pay a finder's fee in connection with the Offering within the
amount permitted by the policies of the Exchange. Closing of the Offering is
subject to a number of conditions, including receipt of all necessary corporate
and regulatory approvals, including the Exchange. All securities issued in
connection with the Offering will be subject to a statutory hold period of four
months plus a day from the date of issuance in accordance with applicable
securities legislation. 


The net proceeds from the Offering will be used by the Company to fund the
exploration work on the Company's In-Between project, and for general and
administrative purposes. The Company may also use some of the net proceeds on
future project acquisitions. 


About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a
focus on copper, especially in a grossly underexplored region "Gaspe, Quebec".
With a dedicated management team, the Company's goal is to create shareholder
wealth through the discovery of new deposits. 


FORWARD LOOKING INFORMATION

Some of the statements contained in this press release are forward-looking
statements and information within the meaning of applicable securities laws.
Forward-looking statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements and information are not historical
facts and are subject to a number of risks and uncertainties beyond the
Company's control. Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the forward-looking
statements contained in this news release. Accordingly, readers should not place
undue reliance on forward-looking statements. The Company undertakes no
obligation to update publicly or otherwise revise any forward-looking
statements, except as may be required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sylvain Laberge
President and CEO
514.380.5610
514.702.9841
Slaberge@gespegcopper.com

Gespeg Resources (TSXV:GCR)
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Gespeg Resources (TSXV:GCR)
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