Conway Resources completes $31,000 private placement

QUEBEC CITY, Dec. 24 /CNW Telbec/ - Conway Resources Inc. ("Conway" or the "Company") (TSX-V: CWY) announces that it has completed a $31,000 private placement. In consideration, the Company has issued 439,167 flow-through common shares, 93,000 common shares and 532,167 share purchase warrants. Each warrant entitles its holder to subscribe for one additional common share of the Company at a price of $0.10 per share for a 12-month period following the closing date of the private placement.

The Company will use the proceeds from the private placement of flow-through shares towards the exploration of its properties in Quebec. The net proceeds from the private placement of common shares will be used for working capital purposes.

The shares issued and the underlying shares to be issued pursuant to the exercise of the warrants under the private placement are subject to a restricted period on resale of four months and one day.

This private placement is subject to regulatory approval.

About Conway Resources Inc.

Conway is a mining exploration company that owns four gold properties and one rare metals property in Quebec. Its main asset is the Belleterre Mine property. The property is the site of the old Belleterre mine, which produced over 800,000 ounces of gold between 1936 and 1959. A total of 2.18 million tonnes of ore at an average grade of 10.73 g/t Au were extracted from the mine, primarily from vein 12 (95% of production). Earlier reports indicate the presence of at least 21 veins on the property.

More information can be found on Conway's website at www.ressources-conway.com.

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

For further information: