GLR offer of debt financing.

0 Comments | M2 Presswire, July, 2007

M2 PRESSWIRE-30 July 2007-GLR Resources Inc.: GLR offer of debt financing(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:30072007 Kirkland Lake, Ontario CANADA /FSC/ - GLR Resources Inc. (GRS - TSX), (GLR) is pleased to announce that it has received a revised term sheet from Investec Bank of UK for debt financing of its Goldfields project in Northern Saskatchewan.

The revised term sheet provided pursuant to the mandate to arrange financing for the Goldfields project signed in 2006 consists of debt financing of up to 40MUS$ consisting of term and convertible loans to finance project construction and potential cost overruns. The financing is subject to documentation and due diligence review by Investec of the recently completed feasibility study (see press release...