DONNER MINERALS LTD. KNIGHT RESOURCES LTD.
DONNER INCREASES HOLDING IN KNIGHT TO 22.9%
VANCOUVER (December 20, 2004) – Knight Resources Ltd. (“Knight”) and Donner Minerals Ltd. (“Donner”) jointly announce, pursuant to section 111 of theSecurities Act (British Columbia), that Donner’s recent acquisition of 2,000,000 common shares of Knight, through the exercise of 2,000,000 warrants at a price of $0.15 per common share, together with the 10,360,750 common shares of Knight held prior to the exercise, has resulted in Donner holding 12,360,750 of Knight’s common shares, representing 22.9% of Knight’s current issued and outstanding share capital.
In addition, Donner continues to hold 3,800,000 warrants of Knight exercisable at $0.15 per common share expiring March 25, 2005. Assuming exercise by Donner of all its warrants, it would hold a maximum of 16,160,750 common shares, representing 27.9% of Knight’s then issued and outstanding share capital. Knight and Donner have directors in common. The creation of Donner’s control block, by way of the exercise of warrants, was approved by Knight’s shareholders at its annual general meeting held on March 5, 2003.
The shares were acquired by Donner for investment purposes, and primarily for Donner to have exposure to and an indirect interest in Knight’s West Raglan Project. Knight understands that Donner intends to acquire additional shares of Knight through the exercise of the remaining outstanding warrants.
ON BEHALF OF THE BOARD OF ON BEHALF OF THE BOARD OF
DONNER MINERALS LTD. KNIGHT RESOURCES LTD.
“David Patterson” “David Patterson”
Chief Executive Officer Chief Executive Officer
3rd floor, 157 Alexander Street Vancouver • BC • Canada • V6A 1B8 Donner Minerals Ltd. Knight Resources Ltd. Tel: (604) 683-0564 • Fax: (604) 602-9311 Tel: (604) 684-6535 • Fax: (604) 602-9311 Web Site:http://www.donner-minerals.ca Web Site:http://www.knightresources.ca E-mail:donner@bed-rock.com E-mail:knight@bed-rock.com TSX Venture Exchange Trading Symbol: DML TSX Venture Exchange Trading Symbol: KNP Frankfurt Stock Exchange Trading Symbol: DNL Frankfurt Stock Exchange Trading Symbol: KRL
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