I believe this is a good move by Management. Moving the strike date out and making the strike price more attainable will allow THE time to develop the current exploration properties to a level WHERE the warrants will get exercised.

I am working on a little comparison between CANPLATS & GALORE and my preliminary guesstimate suggests that the new warrant expiry date will be WELL into the thick of the percussion drilling. PLUS…. possible OR hopefully targets will be CLEARLY IDENTIFIED for diamond drilling to ADVANCE.

IN MY OPINION, those warrants will be exercised in no time flat, and this will allow the needed CAPITAL to advance the Mexico gold discovery PROGRAM.

August REGARDS,

Tommer3


__________


Galore extends term, cuts price of warrants


2008-08-12 13:37 ET - News Release

Mr. Ray Torresan reports

GALORE AMENDS PRICE AND EXTENDS EXERCISE TERM OF IPO WARRANTS

Galore Resources Inc. has agreed, subject to regulatory approval, to extend the exercise term and amend the exercise price of 4,368,500 warrants exercisable at 50 cents and 1,194,250 warrants exercisable at 60 cents, which were originally issued under the company's prospectus on March 14, 2007.

The expiry date of these warrants will be extended for an additional six months, from Sept. 14, 2008, to an expiry date of 4:30 p.m. Vancouver time on March 14, 2009.

The exercise price of both the 4,368,500 and 1,194,250 warrants will be reduced to a price of 35 cents per share, with a provision that if the closing price for the company's shares is 44 cents, or greater for a period of 10 consecutive trading days, then the warrant holders will be given 30 days to exercise their warrants, and otherwise the warrants will expire on the 31st day.

For updates or queries on Galore Resources progress, please feel free to contact me at any of the numbers set out below.


Erica C. Bearss

Vice President, Corporate Communications

Galore Resources Inc. (TSX.V - GRI)

Tel.: 604-647-2298

Cell: 604-374-1107

Fax: 604-647-0086

Website: www.galoreresources.com