Caerus Resource: Private Placement Financing of Three Million Units

Symbol: CA TSX-V

VANCOUVER , Nov. 11 /CNW/ - Caerus Resource Corporation ("the Company")(TSX-V: CA) is pleased to announce a non-brokered private placement financing of up to 3,000,000 units at a price of $ 0.36 per unit, for total gross proceeds of $ 1,080,000 . Each unit will be comprised of one common share and one two year non-transferrable share purchase warrant. The warrant entitles the holder to acquire an additional share of the Company at a price of $ 0.55 per share in year one, and at a price of $ 0.75 per share in year two.

Pursuant to the terms of the private placement, commencing on the date that is four months plus one day from the date of closing of the placement, the Company will have the right upon giving written notice to the holders of the warrants to accelerate the warrant expiry to a period of 30 days from the date of the written notice, where the average closing price of a common share of the Company on the TSX Venture Exchange is greater than $ 1.00 for any consecutive 20-day period. To be valid, the notice must be sent to the warrant holders within five business days of the 20-day period. A finder's fee of 7.5 % cash and 7.5 % share purchase warrants is payable in connection with this transaction. Pursuant to the revised terms of the Plan of Arrangement between White Gold Corporation and the Company announced October 8, 2009 , permission from White Gold Corporation has been extended to permit this private placement financing. Closing is pursuant to the approval of the TSX Venture Exchange.

Proceeds will be used to advance the Cachira Gold Project in Colombia , evaluate the surrounding area now claimed by the Company, and for general working capital purposes. The Company has claimed and optioned 11,540 hectares in addition to the Arboledas claim blocks in Norte de Santander Department. This includes the Cachira Gold Project, which is an area of known gold mineralization and mining activity. The concession area covers a portion of the Bucaramanga Fault, with the dominant rock types being quartz monzonite to granodiorite of the Rio Negro Batholith. Outcrops of strong to intense argillic alteration have been reported on both sides of the fault. The dominant rock type of the 500 hectare concession area is observed to be sandstone to quartzite with rhyolites outcropping in the northeastern corner. The rhyolites may be interstratified with the sandstones and quartzites. The sediments are cut by faults and parallel fracture systems which trend 020 degrees (N20E) and are often mineralized. In outcrop, the fractures generally contain iron and manganese oxides.

A geological team has been onsite completing a basic project reconnaissance which included sampling of areas deemed prospective. A second phase area reconnaissance is planned upon completion of the above financing. Samples from the project have been sent to ACME Laboratories of Vancouver for fire assay.

The Company announces pursuant to its press release of March 10, 2009 regarding a share for debt settlement to certain Directors and Consultants of the company, that 1,147,700 common shares were issued to settle $ 235,903 of debt. The shares were issued with the approval of the TSX Venture Exchange.

    
    San Francisco Hard Asset Show
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Caerus Resource Corporation will be exhibiting at the San Francisco Hard Asset Show on Nov 21-22 at Booth No.1011 near the registration desk. We invite you to meet with Directors of Caerus Resource at the Show.

On Behalf of the Board of Directors of Caerus Resource Corporation

Adrian F.C. Hobkirk / President and Chief Executive Officer

    
    The TSX Venture Exchange has not reviewed the content of this News
    Release and therefore does not accept responsibility or liability for the
    adequacy or accuracy of the contents of this News Release.
    

This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

For further information: Caerus Resource Corporation, 1525 - 57 Avenue West, Suite 212, Vancouver, BC, Canada, V6P 6E9, Tel: [phone], Fax: [phone], U.S. Tel: [phone], www.resourceexploration.com, [email protected]