San Marco Resources Inc. (TSX VENTURE:SMN) announces that it has completed its
private placement announced June 6, 2011. The placement was oversubscribed by
$314,000 resulting in San Marco selling 6,570,000 units at $0.20 per unit for
proceeds of $1,314,000. Finders' fees of $64,260 (6%) were paid in respect of
some of the subscriptions.


Each unit consisted of one common share and one-half of a non-transferable
warrant, each whole warrant being exercisable to purchase a further share until
July 6, 2013 at a price of $0.35. The warrants provide that if the closing price
of its shares exceeds $0.70 per share for 20 consecutive trading days after
November 6, 2011, San Marco may give the warrant holders notice that the
warrants must be exercised within 30 days or the warrants will expire. 


The shares and any shares issued on the exercise of the warrants are subject to
restrictions on resale until November 7, 2011. 


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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