VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 16, 2011) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Waymar Resources Ltd. (“Waymar” or the “Company”) (TSX VENTURE:WYM) is pleased to announce that it has completed its previously announced C$12,650,000 private placement financing (the “Offering”). A total of 11,500,000 units, including the exercise of the Agents’ option in full, has been issued today at a price of C$1.10 per unit to a syndicate of agents co-led by GMP Securities L.P. and PowerOne Capital Markets Limited and including Clarus Securities Inc. and Jennings Capital Inc. (collectively, the “Agents”).

Each Unit will consist of one common share in the capital of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$1.50 for a period of 24 months following the closing of the Offering. In the event that after four months and one day from the closing date of the Offering, the volume weighted average trading price of the Company’s common shares on the TSX Venture for a period of 20 consecutive trading days exceeds C$2.50, the Company may, within five days after such an event, provide notice to the Warrant holders of early expiry such that the Warrants will expire on the date which is 30 days after the date of the notice to the Warrant holders.

In connection with the Offering, Waymar has agreed to pay an aggregate cash commission to the Agents in an amount equal to 7.0% of the gross proceeds of the Offering, and issue broker warrants to the Agents entitling the Agents to acquire, in the aggregate, such number of common shares as is equal to 7.0% of the aggregate number of Units sold in the Offering, at a price of C$1.10 per common share for a period of 24 months following the closing of the Offering.

All securities issued in the Offering are subject to a statutory hold period expiring June 17, 2011.

The net proceeds from the Offering will be used to fund the Company’s exploration program and for general corporate purposes.

Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anzá project located in the west of the Antioquia Department in the Republic of Colombia. Upon exercise of the option, the optionors will retain a 2% net smelter return royalty on that portion of the Anzá property governed by the Option Agreement, one-half of which may be purchased by Waymar for a cash payment of US$1,000,000. Colombia is a significant producer of gold, nickel, emeralds, petroleum and natural gas as well as a leading producer of coal in Latin America. Waymar also has 100% ownership of certain properties surrounding Anzá to cover district potential and is continually seeking opportunities to acquire exploration properties. Waymar trades on the TSX Venture Exchange under the symbol “WYM”.

WAYMAR RESOURCES LTD.

Pablo Marcet, President & CEO

Cautionary Statement on Forward-Looking Information

This press release contains “forward looking statements” and “forward-looking information” including Waymar’s proposed use of funds from this Offering. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates” or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, intentions, analysis and opinions of Waymar made at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Waymar to be materially different from those expressed or implied by such forward-looking information, including the risk factors disclosed elsewhere in Waymar’s public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Waymar’s plans and objectives and may not be appropriate for other purposes. Waymar does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact

Waymar Resources Ltd.
Investor Relations
1-778-373-0100
1-604-639-4670 (FAX)
info@waymarresources.com