Canaccord and Griffiths McBurney Engaged to Complete Financing for Stingray

NEWS RELEASE TRANSMITTED BY CCNMatthews FOR: STINGRAY RESOURCES INC. TSX VENTURE SYMBOL: SRY NOVEMBER 26, 2003 - 10:10 ET Canaccord and Griffiths McBurney Engaged to Complete Financing for Stingray TORONTO, ONTARIO-- "NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION INTO THE UNITED STATES" Peter Mordaunt President of Stingray Resources Inc., is pleased to announce that the Company has engaged Canaccord Capital Corporation and Griffiths McBurney & Partners (the "Agents") as co-agents on a best effort basis for a private placement Offering of Stingray Resources Inc., subject to regulatory approval. The aggregate gross proceeds of the Offering will be C$5.0 million and consists of units (the "Units'). Each Unit is priced at C$1.00 and will consist of one common share and one half a share purchase warrant. Each whole warrant is exercisable for 24 months into a common share at a price of C$1.50. The Agents have the option to increase the size of the Offering by up to an additional C$2.0 million, exercisable in whole or in part on the same terms and conditions up to closing. Stingray has filed with regulatory authorities a current Annual Information Form pursuant to Multilateral Instrument 45-102 and all Units offered will be subject to a four month hold period in Canada. The Units will be offered by way of private placement exemption in certain provinces of Canada, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended. The Company will issue to the agents at closing, warrants equal to 6.5% of the Units issued pursuant to the Offering. Each warrant will be exercisable to acquire a common share at the Unit price of C$1.00 for a period of 12 months. Stingray Resources Inc. is actively exploring for precious metals in northwestern Mexico at its El Indio Property in Chihuahua State. -30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Steve Brunelle
Vice President
(416) 368-6240
stingray@on.aibn.com
www.stingrayresources.com
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