Everett Announces Private Placement

Vancouver, British Columbia, Canada, February 25, 2011 --(PR.com)-- Everett Resources Ltd. (“Everett”) announces that it has agreed to a non-brokered placement of up to $301,675 of its securities consisting of the sale of 5,485,000 units at a price of $0.055 per unit (the "Offering"), each unit consisting of one common share in the capital of Everett and one-half of a non-transferable share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share of Everett at a price of $0.10 per share for a period of two years from the date of issue of the units. The proceeds of the offering will be used for general working capital purposes. Everett may pay a commission in cash or shares with respect to the financing of up to 8% of the funds raised.

Everett is pleased to advise that the Offering has been fully subscribed for by investors.

The private placement is subject to acceptance for filing by the TSX Venture Exchange.

About Everett Resources Ltd.

Everett is a junior resource mineral exploration company with interests in two mineral properties, the Menarik Project located in Quebec and the San Juan Property located in New Mexico, U.S.A. To find out more about Everett Resources Ltd., visit Everett's website at www.everettresources.com

The Menarik Property, Quebec

As set out in the joint news release issued by Everett and Pro-Or Inc. ("Pro-Or") on September 23, 2010, the Menarik Property is located in northwestern Quebec, approximately 45 kilometers to the south east of the town of Radisson. It comprises a contiguous group of 67 claims, for a total area of 3,062 hectares, fully owned by Pro-Or, free of any royalties. Pro-Or, to date, has incurred expenditures in the order of $6,900,000 on the Property. Based on a compilation report by consultant geologist, Yvan Bussieres, five different types of mineralization have been indentified on the Menarik Property. The Menarik ultramafic intrusion contains stratiform chromitites formations, massive sulphides and nickel-copper concentrations in altered zones. A 43-101 compliant estimate of chromite resources made for Pro-Or in 2006 by the consultant group Roche from Quebec City and updated in 2009 by Yvan Bussières, P.Eng. reports a total of measured and indicated resources exceeding 6.2 million metric tons grading on average 7.69% Cr2O3. Gold showings and mineralized felsic volcanics were found on the edges. The chromitite formations are similar to those of the UG2 horizon in the Bushveld complex of South Africa, the gold bearing mineralization associated with ultramafic intrusions are similar to the Cadillac-Larder Lake Archean gold deposits and the mineralized felsic volcanics are similar to Noranda's Horne Mine.

The San Juan Property, New Mexico

Everett continues to hold and maintain its interest in the uranium prospective San Juan Property which is comprised of 496 mineral claims located in the San Juan Basin of New Mexico. The San Juan Property contains lands where earlier drilling by the U.S. Department of Energy encountered conditions consistent with those of other uranium occurrences identified in the area. Everett`s geological consultants recommend an exploration program, including drilling, to confirm the existence of uranium on the property. With its current exploration focus on the Menarik Property, Everett may seek a joint venture participant to carry out an exploration program.

Everett Resources Ltd.

Per: "Michael Waggett"
Michael Waggett, President

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