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Press release from Marketwire

DeeThree Exploration Announces $15 Million Flow-Through Share Private Placement

Thursday, October 28, 2010

DeeThree Exploration Announces $15 Million Flow-Through Share Private Placement17:08 EDT Thursday, October 28, 2010CALGARY, ALBERTA--(Marketwire - Oct. 28, 2010) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESDeeThree Exploration Ltd. ("DeeThree") (TSX:DTX) is pleased to announce that it has engaged a syndicate of investment dealers (collectively, the "Agents") led by Casimir Capital Ltd. to act as its agent on a reasonable best-efforts basis for the private placement of 3,296,703 common shares issued on a "flow-through" basis for the purposes of the Income Tax Act (Canada) ("Flow-Through Shares") at the price of $4.55 per share for gross proceeds of $15 million (the "Offering").The proceeds of this Offering will be used to fund DeeThree's ongoing exploration activities.The Offering is being made in all provinces of Canada, other than Quebec. The Flow-Through Shares issued pursuant to the Offering will be subject to a four month hold period from the date of closing the Offering. Closing of the Offering is expected to occur on or about November 18, 2010 and is subject to the receipt of receipt of customary regulatory approvals including that of the Toronto Stock Exchange.Cautionary Note Regarding Forward-Looking StatementsCertain statements contained herein constitute forward-looking statements, including statements concerning the anticipated closing date of the Offering and the anticipated use of proceeds. We believe the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. Closing could be delayed if DeeThree cannot obtain necessary regulatory approvals within anticipated timelines and will not be completed unless certain conditions customary for transactions of this kind are satisfied. The forward-looking statements included in this press release are made as of the date of this press release and DeeThree disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.FOR FURTHER INFORMATION PLEASE CONTACT: Martin CheyneDeeThree Exploration Ltd.President and Chief Executive Officer(403) 263-9130