San Marco Resources Inc. (TSX VENTURE:SMN) announces that it has closed its
private placement of 5,100,000 units at $0.35 per unit for gross proceeds of
$1,785,000. 


Each unit consisted of one common share and one-half of a non-transferable
warrant, each whole warrant exercisable to purchase a further share for 18
months at a price of $0.55. If the closing price of the Company's shares on the
TSX Venture Exchange for 10 consecutive trading days after February 22, 2011
equals or exceeds $1.00 per share, the Company may accelerate the expiry of the
Warrants to 20 trading days after notice thereof to the warrant holders. 


Finders' fees of 6% were paid (in cash) to eligible finders and brokers for
introducing some of the investors to the placement. 


The proceeds of the placement will be used for continued exploration on its
Mexican gold/silver properties Tecomate and La Buena, and for general working
capital.
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