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Press release from Marketwire

DeeThree Exploration Announces First Tranche Closing of Flow-Through Share Private Placement

Friday, November 19, 2010

DeeThree Exploration Announces First Tranche Closing of Flow-Through Share Private Placement10:29 EST Friday, November 19, 2010CALGARY, ALBERTA--(Marketwire - Nov. 19, 2010) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES DeeThree Exploration Ltd. ("DeeThree") (TSX VENTURE:DTX) is pleased to announce that it has completed the first tranche closing of its previously announced private placement (the "Offering") with a syndicate of investment dealers (collectively, the "Agents") led by Casimir Capital Ltd. Due to market demand, DeeThree added a non-brokered component to the Offering and increased the size of the Offering from $15,000,000 to $16,565,103. The first tranche closing included the issuance of 3,213,522 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 aggregate gross proceeds of $14,621,525. The second tranche closing of the Offering is expected to occur on or before November 25, 2010.The proceeds of this Offering will be used to fund DeeThree's ongoing exploration activities.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. The completion of the Offering is subject to final approval from the Toronto Stock Exchange.Cautionary Note Regarding Forward-Looking Statements Certain statements contained herein constitute forward-looking statements, including statements concerning the anticipated second 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. 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