EURO Ressources S.A. Receives Rights Offering Proceeds

James H. Dunnett, Directeur-General of EURO commented:"We are verypleased with the strong support from our shareholders and thank them for theirconfidence. It is gratifying that we have not needed to call upon theunderwriting assistance from either Macquarie Bank or Golden Star and that theissue was fully subscribed by the broad majority of our shareholders.

"The proceeds of the issue will provide in excess of US$11 million. Thisis more than we had anticipated due to the favourable movement in the exchangerate between the US Dollar and the Euro and gives us added liquidity.

"At the same time, and at our request, we anticipate that Golden Starwill now agree to a deferment until 2008, on favourable terms, of the paymentsotherwise due to them in regard to the Rosebel Royalty and their subordinatedloan. If we are successful in these negotiations, the deferment will provideadded liquidity to EURO and allow us to better reduce our gold hedge position.We expect we may repay our loan from Macquarie Bank as part of thisre-arrangement of our finances. Discussions remain ongoing but are expected toconclude after the US Thanksgiving Holiday."

About EURO

EURO is a French company, presently focused on acquiring and holdingmineral royalties and similar interests on operating gold mines. Additionally,EURO continues to hold certain exploration and development mineral rights,principally gold, in French Guiana, which are the subject of joint venturearrangements.

EURO has approximately 60.6 million shares outstanding.

Statements Regarding Forward-Looking Information: Some statementscontained in this news release are forward-looking statements. Investors arecautioned that forward-looking statements are inherently uncertain and involverisks and uncertainties that could cause actual results to differ materially.Such statements include comments regarding the Company's intentions regardingthe acquisition of other corporations and additional royalty or mineralinterests as well as the operations and results of the Rosebel gold mine.There can be no assurance that future developments affecting the Company orthe Rosebel gold mine will be those anticipated by management.

Not for distribution to United States newswire services or fordissemination in the United States. The securities referred to herein have notbeen registered under the US Securities Act of 1933 and may not be offered orsold in the United States or to a US person absent registration or anapplicable exemption from registration.

Additional information relating to EURO Ressources S.A. is available onSEDAR at

    Further requests for information should be addressed to:    <<    James H. Dunnett,                Susanne A. Hermans    Directeur-General                Vice-President Finance    Tel: +1 604 710 2242             Tel: +1 303 204 7771    Email: jhdunnett(at)aol.com         Email: shermans(at)euroressources.net    >>

For further information

EURO Ressources S.A. James H. Dunnett,Directeur-General +1 604 710 2242 or Susanne A. HermansVice-President Finance +1 303 204 7771