San Marco Resources Inc. (TSX VENTURE:SMN) announces that it is arranging a
non-brokered private placement of 8,000,000 units at $0.13 per unit for gross
proceeds of $1,040,000. 


Each unit will consist 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 $0.26. After the four month restricted resale period expires, the
expiry of the warrants may be accelerated if the closing price of the Company's
shares exceeds $0.45 per share for 20 consecutive trading days and the Company
gives notice to the warrant holders that the warrants will expire in 30 days.


Finders' fees equal to 6% of the gross proceeds may be paid cash or shares. The
size of the placement may be increased, or reduced, at the Company's option and
is subject to regulatory approval.


The proceeds of the placement will be used for:



--  Continuing exploration activities on the Company's Angeles property,
    including an expanded surface magnetometer survey, extending soil
    sampling grid, surface sampling of newly discovered mineralized
    structures, all in preparation for and commencement of diamond drilling;
--  Additional property acquisitions; and 
--  Working capital.



The placement is expected to close on or about October 29, 2012.

San Marco also announces that Rick Peterson has been retained to provide
strategic development and corporate finance advisory services. As part of his
remuneration, a stock option to purchase 250,000 shares has been issued to Mr.
Peterson, according to the Company's stock option plan.
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