Company News Releases...

December 21. 2005

Private placement completed

Vancouver B.C. December 21, 2005 - The Company has completed 520,450 units of the non-brokered private placement announced on October 4, 2005 and amended on November 22, 2005. The private placement units consisted of one share at a purchase price of $4.00 per share, and one warrant to purchase an additional share at a price of $4.00 exercisable for a period of two years. The shares shall not be traded before April 2, 2006. The proceeds of the private placement have been used for general working capital and continued exploration on the Morrison & Hearne Hill properties. No finders fee or commission was payable for this private placement.

On Behalf of the Board of Directors

"John Plourde"

John Plourde
 

No regulatory authority has approved or disapproved the information contained in this news release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured,'' "indicated," and "inferred" "resources," that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20- F, File No. 0-51453, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml