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Gentor Announces Private Placement Financing

August 29, 2014



ENP Newswire - 29 August 2014

Release date- 28082014 - Toronto, Canada - Gentor Resources Inc. (TSX-V-'GNT') announces that it proposes to carry out a non-brokered private placement of 3,000,000 units of the Company at a price of Cdn$0.06 per Unit for proceeds to the Company of Cdn$180,000.

Each such Unit is to be comprised of one common share of the Company and one-half of one warrant of the Company, with each full warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.075 for a period of two years. Closing of this financing (the 'Financing') is subject to receipt of all necessary approvals, including board and TSX Venture Exchange approvals.

The Company intends to use the proceeds from the Financing for general corporate purposes. Arnold T. Kondrat is the proposed purchaser of all of the Units. Mr. Kondrat is Chief Executive Officer, President and a director of the Company, and currently holds 21,697,500 (or 30.03%) of the outstanding common shares of the Company. He also currently holds 7,500,000 common share purchase warrants of the Company, with each such warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.07 until January 2016.

About Gentor

Gentor is a mineral exploration company with copper exploration properties in Turkey. The Company's strategy is to create shareholder value by developing highly prospective mineral properties around the globe, with current focus in Turkey.

Forward-Looking Information

This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the closing of the Financing) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company.

Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to the availability and costs of financing needed in the future, risks related to the exploration stage of the Company's properties, the possibility that future exploration results will not be consistent with the Company's expectations, failure to complete the proposed Financing, the need to satisfy regulatory and legal requirements with respect to the proposed Financing, changes in world copper markets and equity markets, political developments in Turkey, the uncertainties involved in interpreting exploration results and other geological data and the other risks disclosed under the heading 'Risk Factors' and elsewhere in the Company's annual report on Form 20-F dated April 30, 2014 relating to the year ended December 31, 2013 filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

For further information, please visit our website at www.gentorresources.com

Contact:

Arnold T. Kondrat

Tel: + 1 (416) 366 2221


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Source: ENP Newswire


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