Exco Resources Limited: Completes A$4.9 Million Placement To Fund Exploration and Resource Development In North-West Queensland

08:53 AEST Aug 17, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - Exco Resources Limited (ASX: EXS) (PINK: EXRSF) is pleased to announce that it has today issued 16,428,295 shares at 30 cents each (Securities) to Aus-Ore Investments Pty Ltd to raise A$4.9m before expenses.

These Securities were issued pursuant to the agreement entered into between the Company and Sin-Tang Development Pte Ltd announced on 10 August 2010.

The placement funds will be used to fund exploration and resource development activities at its portfolio of Copper-Gold Projects in north -west Queensland.

Notice Given under Section 708A(5)(e) of the Corporations Act 2001

The Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) that:

a) the Company intends to issue the Securities without disclosure to investors under Part 6D.2 of the Act;

b) as at today's date, the Company has complied with:

i) the provisions of Chapter 2M of the Act as they apply to the Company; and

ii) section 674 of the Act; and

c) there is no 'excluded information' within the meaning of sections 708A(7) and 708A(8) of the Act which is required to be disclosed under section 708A(6)(e) of the Act.

For the complete Exco Resources announcement including Appendix 3B, please refer to the following link below:
http://www.abnnewswire.net/media/en/docs/63529-ASX-EXS-501784.pdf


About Exco Resources Limited

Exco is an Australian focused ASX-listed mining company (ASX:EXS)(PINK:EXRSF) with a dual focus on developing both the White Dam Gold Project in South Australia, and the Cloncurry Copper Project (CCP) in north-west Queensland. In addition, the Company has renewed its exploration efforts at the highly prospective Hazel Creek Project, also in north-west Queensland.



Contact:

Michael Anderson
Managing Director
Exco Resources Limited
Tel: +61-8-9211-2000
Fax: +61-2-9211-2001
www.excoresources.com.au