Statesman Resources Amends Financing

January 11, 2007

Vancouver, BC… Statesman Resources Ltd. (TSXV: SRR) (“Statesman”) has increased the amount to be raised pursuant to its previously announced financing to up to $2.07 million, with the terms remaining the same. The 5% convertible debentures are to be convertible into units on the basis of one unit for every $0.60 of principal sum owing under the debentures, each unit being comprised of one common share and one common share purchase warrant. The warrant will entitle the holder to purchase one additional common share of the Company for a period of two (2) years from the issuance of the debenture at a price of $1.00 per share. Interest will be payable semi-annually in arrears.

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Certain statements made in this presentation involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. Certain statements relating to Statesman Resources’ business and operations are based on management’s expectations, estimates and projections. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Certain statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such statements. Statesman Resources makes no commitment, and disclaims any duty, to update or revise any of these statements. This release is for informational purposes only and is not intended as a solicitation or offering of securities in any jurisdiction.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.