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Cartier Resources Inc.: Cartier Announces Closing of a $620,880 Financing

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^{Published in Business and Finance on Tuesday, December 23rd 2008 at 13:11 GMT, Last Modified on 2008-12-23 13:11:50 by Market Wire}  

VAL-D'OR, QUEBEC--(Marketwire - Dec. 23, 2008) - Cartier Resources inc. (TSX VENTURE:ECR) ("Cartier") announces the closing of a non-brokered private placement for a total of 2,822,182 units for a total amount of $620,880. Each unit is priced at $0.22 and consists of one common share of the company and a right to purchase one half warrants. A whole share purchase warrant may be exercised at $0.35 a share for a period of 24 months from the closing of this financing.

The subscribers of this financing include CGE Ressources 2008 for a total of $200,000 (909 091 units). The remaining 1,913,091 units for a total of $420,880 were subscribed by accredited investors non related to the company (with the exception of one director of the company).

At closing Cartier paid a finder's fee of $45,670 to Valeurs Mobilieres Desjardins and Industrial Alliance Securities Inc. The shares issued at the final closing of the private placement are subject to a four-month hold period expiring April 24, 2009.

Cartier will use the proceeds from the private placement for exploration on its Kinojevis property.

About Cartier Resources Inc.

Cartier Resources is a pure-play exploration company focused on gold in the prolific Abitibi Gold Belt in Quebec. The Company's portfolio of properties consists of 100% owned projects which are managed by a team of geologists who have a proven track record of making significant discoveries. Cartier Resources' resolve is to increase shareholder value from acquisition to discovery.

The Exchange does not accept responsibility for the adequacy or accuracy of this press release.