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October 18, 2011
 

COGITORE RESOURCES ANNOUNCES CLOSING OF FINANCING

Cogitore Resources Inc. (the "Company") (TSXV: WOO) announces that it has borrowed $500,000 from a private institutional lender pursuant to loan agreement which matures on June 30, 2012. Pursuant to the agreement the Company issued the lender warrants exercisable for up to 500,000 common shares of the Company at $0.26 per share until October 18, 2012. All securities issued pursuant to the financing are subject to a four-month hold period. The proceeds of the financing will be used to fund the Company's ongoing exploration program.

The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it will focus its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland.

http://www.cogitore.com/

For more information please contact:

Gérald Riverin
President & CEO
Telephone: 819-764-6666 or

Mark Goodman
Executive Chairman
Telephone: 416-924-9893, ext. #1

Forward Looking Statements

Certain statements contained in this news release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to our future outlook and anticipated events or results and may include statements regarding the expected infilling of intervening intercepts and the timing of the updated report. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue", "does not expect", "budget", "scheduled", "forecast" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions regarding expected developments. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

Forward looking-information involves known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements of the Company to differ materially from the future results, performance or achievements expressed or implied by such forward looking information. Such risks, uncertainties and other important factors include, without limitation: general economic conditions; access to skilled consultants; the possibility that future exploration results will not be consistent with the Company's expectations; uncertainties involved in interpreting drilling results; unanticipated costs and expenses; timing and availability of external financing on acceptable terms; dependence on key personnel; future prices of precious and base metals; failure of equipment or processes to operate as anticipated; and risks inherent in mining exploration and development including, but not limited to, unusual or unexpected geological formations. Such factors are also described or referred to under the headings "Property and Financial Risk Factors Affecting Financial Instruments" and "Other Risk and Uncertainties" of the Company's Management's Discussion and Analysis for the quarter ending September 30, 2009, all of which are incorporated by reference herein and are available at SEDAR at www.sedar.com. We caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on Cogitore's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events except where required by applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.