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TEARLACH RESOURCES LTD. CLOSES NON-BROKERED PRIVATE PLACEMENT

November 12, 2009

VANCOUVER, BC: Tearlach Resources Ltd. (the “Company”) announces that it has closed a non-brokered private placement (the “Offering”) of 6,250,000 Non Flow-through Units and 1,000,000 Flow-through units at a price of $0.02 per Unit for gross proceeds of $145,000. 

Each Non Flow-through Unit consists of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”).  Each Warrant will entitle the holder thereof to purchase one Share at a price of $0.05 for a period expiring one year from the date of issuance and at a price of $0.10 for the second through fifth years from the date of issuance.

Each Flow-through Unit consists of one Flow-through Share of the Company and one Flow-through Warrant. Each Flow-Through Warrant will entitle the holder thereof to purchase one Flow-through Share at a price of $0.05 for a period expiring one year from the date of issuance and at a price of $0.10 for the second through fifth years from the date of issuance.

Proceeds from the Offering will be used by the Company for further exploration of the Company’s Foy-Hess properties and for general working capital.  All securities issued in connection with the Offering will be subject to a statutory hold period expiring March 13, 2010, in accordance with the applicable securities legislation.

TEARLACH RESOURCES LTD.

Charles Ross
Director

TEARLACH RESOURCES LTD.

Suite 2110
1177 W. Hastings Street
Vancouver, BC, Canada V6E 2K3

Tel: 604.688-5007
Fax: 604.909-4682

 

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

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