Glamis Closes $90 Million Bought Deal Private Placement

CALGARY, ALBERTA--(Marketwire - Aug. 14, 2009) -

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Glamis Resources Ltd. ("Glamis") (TSX VENTURE:GLM.A) (TSX VENTURE:GLM.B) is pleased to announce that it has completed the previously announced bought deal private placement which was announced on July 23, 2009 (the "Private Placement") of 60,000,000 class A shares ("Class A Shares") at a price of $1.25 per Class A Share. The underwriting syndicate elected to exercise its over-allotment option to increase the offering by 12,000,000 Class A Shares, resulting in the issuance of 72,000,000 Class A Shares for gross aggregate proceeds of $90,000,000.

GMP Securities L.P. and Macquarie Capital Markets Canada Ltd. were the co-lead underwriters for a syndicate of underwriters which included FirstEnergy Capital Corp., BMO Capital Markets, Cormark Securities Inc., National Bank Financial Inc. and Scotia Capital Inc.

Proceeds from the offering will be used to fund a portion of the purchase price payable by Glamis for the previously announced acquisition of assets from Bonavista Energy Trust, with the balance funded from working capital. The Class A Shares issued under the Private Placement are subject to a four month hold which expires on December 15, 2009 pursuant to applicable securities laws.

Glamis Resources Ltd. is a uniquely positioned, well-capitalized junior oil and gas company with a proven management team committed to aggressive, cost-effective growth of light oil reserves and production in Saskatchewan and Manitoba. Glamis' Class A Shares and Class B Shares trade on the TSX Venture Exchange under the symbols GLM.A and GLM.B, respectively.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. More particularly, this press release contains statements concerning the use of funds from the Private Placement.

The forward-looking statements contained in this document are based on certain key expectations and assumptions made by Glamis, including, with respect to the use of funds from the Private Placement, expectations and assumptions concerning timing of receipt of required regulatory approvals and third party consents and the satisfaction of other conditions to the completion of the acquisition of assets from BonaVista.

Although Glamis believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Glamis can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals or satisfy the conditions to closing the acquisition, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Certain of these risks are set out in more detail in Glamis' Annual Information Form which has been filed on SEDAR and can be accessed at www.sedar.com.

The forward-looking statements contained in this document are made as of the date hereof and Glamis undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.