TORONTO, ONTARIO--(Marketwire - Oct. 28, 2011) -Telferscot Resources Inc. (CNSX:TFS) ("Telferscot" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 4 million common shares at a price of CAD$0.25 per share for gross proceeds of CAD$1,000,000. The Company reserves the right to issue up to 2,000,000 additional common shares for total proceeds from the offering of CAD$1,500,000. The Securities are legended and restricted from trading for four months.

Telferscot is also pleased to announce that it has commenced a 2,000 metre drilling program on its Kolwezi Copper Project in the Democratic Republic of Congo. The Company expects to complete this drilling program in the first quarter of 2012.

Telferscot Resources Inc. is a Canadian-based mineral exploration company currently focused on copper and cobalt exploration on its newly acquired interest in the Kolwezi Project located in the Democratic Republic of the Congo and base and precious metal exploration on its Stephens Lake Property in northern Manitoba. In addition, the Company is actively pursuing other opportunities globally. For further information and access to the Company's public disclosure record please consult SEDAR at [ www.sedar.com ].

Listing and disclosure documents for Telferscot are available in the CNSX Listings Disclosure Hall ([ http://www.cnsx.ca/Page.asp?PageID=2065&SiteNodeID=203&BL_ExpandID=1391 ]).

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