SXR Sgx Resources (delisted)

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES. 


Dale Ginn, President and CEO of SGX Resources Inc. (TSX VENTURE:SXR), is pleased
to announce that SGX has entered into an option agreement (the "Option
Agreement") with each of Shoreacres Explorations Ltd., 2090720 Ontario Inc. and
2229667 Ontario Inc. (collectively, the "Optionors") dated as of today. Pursuant
to the Option Agreement, the Optionors have provided SGX with an option to
acquire a 100% undivided interest in eight leased mineral claims (the
"Properties") held by the Optionors in Grenfell Township in the Larder Lake
Mining District in the Kirkland Lake, Ontario area. 


Pursuant to the terms of the Option Agreement, SGX has the option to earn a 100%
undivided interest in the Properties by making the following aggregate cash
payments and issuing the following aggregate numbers of common shares of SGX
("Common Shares") to the Optionors: (i) $25,000 cash and 100,000 Common Shares
on or about the date that the TSX Venture Exchange accepts the terms of the
Option Agreement (the "Effective Date"): (ii) $25,000 cash and 100,000 common
shares on or before the first anniversary of the Effective Date; (iii) $25,000
cash and 100,000 Common Shares on or before the second anniversary of the
Effective Date; (iv) $37,,500 cash and 150,000 Common Shares on or before the
third anniversary of the Effective Date; and (v) 62,500 cash and 250,000 Common
Shares on or before the fourth anniversary of the Effective Date. There is no
specific work commitment required by SGX pursuant to the Option Agreement. 


Upon transfer of a 100% undivided interest in the Properties from the Optionors
to SGX, the Optionors shall be entitled to an aggregate 1% net smelter returns
royalty on the Properties. This is in addition to the existing 2% net smelter
returns royalty on the Property. SGX shall be entitled to purchase half of such
royalty (1%) from the holder for $1,000,000 in cash.


The Option Agreement is subject to the final approval of the TSX Venture Exchange.

The information in this release may contain forward-looking information under
applicable securities laws. This forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause actual results
to differ materially from those implied in the forward-looking information.

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