Metalore Resources Limited - Notice of Default

SIMCOE, ON, July 14 /CNW/ - Metalore Resources Limited advises that it
has been unable to file its Audited Annual Financial Statement by June 29,
2006, as required by National Instrument 51-102 Continuous Disclosure
Obligations.
The Company has been awaiting a decision by the OSC regarding depletion
Calculations and intends to file its required material by July 28, 2006, along
with a restatement of the 2005 Financials.

"signed"

George Chilian