SGX Resources Inc. Announces Closing of Private Placement Offering of Flow-Through Shares

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WINNIPEG, Dec. 22, 2011 /CNW/ - Mr. Dale Ginn, Chief Executive Officer of SGX Resources Inc. (the "Corporation"), a company listed on the TSX Venture Exchange under the symbol "SXR", today announced the closing of its previously announced private placement offering (the "Offering") of common shares issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) ("Flow-Through Shares"). At the closing the Corporation issued 10,000,000 Flow-Through Shares at a price of $0.25 per Flow-Through Share for aggregate gross proceeds of  $2,500,000.

The Flow-Through Shares issued pursuant to the Offering will be restricted from transfer for a period of four months and a day in accordance with applicable securities laws.

Certain companies and individuals assisted the Corporation by introducing potential subscribers for the Offering and received a fee, payable in cash, equal to 5% of the total subscription proceeds received from subscribers introduced to the Corporation by each particular person. No broker warrants were issued in connection with the Offering.

Proceeds from this offering will be used in the exploration and development of the Corporation's primary Timmins area projects:

• Timmins South where an aggressive drilling campaign is seeking large near surface gold deposits in the Sothman Township located approximately 60 kilometers south of Timmins.
• Timmins North where drilling is extending and defining the high grade Tully deposit located approximately 25 kilometers north of Timmins.
• Western properties where geophysical and drill programs are seeking gold deposits to the west of Timmins in the Carscallen and Ogden Townships.

The closing of the Offering is subject to the final approval of the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this News Release.