VANCOUVER, BRITISH COLUMBIA–( EMWNews – March 31, 2008) – Galena International Resources Ltd. (the “Corporation”), a capital pool company, today announced that it has completed its initial public offering (“IPO”) consisting of a new issue of 7,500,000 common shares priced at $0.20 per share, for gross proceeds of $1,500,000. The Corporation’s common shares are expected to commence trading on the TSX Venture Exchange (the “TSX-V”) under the symbol “GTO.P” at market opening on April 2, 2008.

The net proceeds of the IPO will be used by the Corporation to identify and evaluate assets or businesses for acquisition with a view to completing a “Qualifying Transaction” under the Capital Pool Company program of the TSX-V as disclosed in the Corporation’s prospectus dated January 28, 2008.

PI Financial Corp. (the “Agent”) acted as agent for the IPO. In connection with the IPO, the Corporation granted the Agent a non-transferable option to purchase an additional 750,000 common shares at a price of $0.20 per share, exercisable for a period of 24 months from the date of listing of the common shares on the TSX-V.

The Corporation has also granted stock options to its directors and officers to acquire an aggregate of 1,250,000 common shares at a price of $0.20 per share, exercisable until March 31, 2013.

An aggregate of 5,000,000 previously issued and outstanding common shares of the Corporation were placed in escrow in accordance with the policies of the TSX-V (the total number of issued and outstanding common shares following completion of the IPO is 12,500,000).

ON BEHALF OF THE BOARD OF DIRECTORS

RANDY C. TURNER, PRESIDENT, C.E.O. & DIRECTOR

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