Cartier Resources Inc. (TSX-V: ECR) announces that it has closed its previously announced private placement for aggregate gross proceeds of $1,820,000. A total of 14,000,000 units of Cartier were issued at a price of $0.13 per Unit. Each Unit consisted of one common share of Cartier and one half Common Share purchase warrant, each whole warrant entitling the holder to subscribe for one Common Share at a price of $0.16 for a period of thirty-six months following the closing date of the Private Placement. Agnico Eagle now owns approximately 17.7% of the issued and outstanding Common Shares on a non-diluted basis and 19.7% of the issued and outstanding Common Shares on a partially-diluted basis.

The proceeds from the Private Placement are expected to be used for exploration at Cartier’s Chimo Mine project in the Val-d’Or Mining Camp in Quebec.

The securities issued under the Private Placement will be subject to a four (4) month statutory hold period.

About Cartier

Cartier Resources Inc., which was founded in 2006, is an exploration company based in Val-d’Or. Cartier’s projects are all located in Quebec, which regularly ranks among the best mining jurisdictions in the world. Cartier is advancing the development of its flagship Chimo Mine project and actively exploring its other projects. Cartier has a solid cash position exceeding $7.0M and significant corporate and institutional supports, notably with Agnico Eagle, O3 Mining and the Quebec investment funds.