RAB Special Situations L.P.

Boulder Mining Corporation

Boulder Mining Corporation

March 17, 2005 16:41 ET

RAB Special Situations L.P./Boulder Mining Corporation-Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RAB SPECIAL SITUATIONS L.P.

AND BOULDER MINING CORPORATION

TSX VENTURE SYMBOL: BDR

MARCH 17, 2005 - 16:41 ET

RAB Special Situations L.P./Boulder Mining
Corporation-Announcement

LONDON, UNITED KINGDOM--(CCNMatthews - March 17, 2005) - RAB Special
Situations L.P. ("Special Situations") announces that it subscribed for
a total of 6,666,667 units (the "Units") of Boulder Mining Corporation
(TSX VENTURE:BDR) (the "Company") at a price of Cdn.$0.15 per Unit. Each
Unit consists of one (1) common share in the share capital of the
Company (a "Share") and one (1) transferable Share purchase warrant (a
"Warrant"). Each one (1) whole Warrant shall entitle RAB Special
Situations LP ("Special Situations") to purchase one (1) Share (a
"Warrant Share") at a price of Cdn.$0.20 per Share for a period of
twelve (12) months from the Closing. The transaction took place off the
market by way of private placement and closed on March 14, 2005.

Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 19.48% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of the Warrants) ("Partially Diluted
Basis").

Immediately after the Private Placement, Special Situations owned
6,666,667 Shares and 6,666,667 Warrants, representing approximately
19.48% of the issued and outstanding Shares on a Partially Diluted Basis.

Special Situations purchased securities for investment purposes only and
not with the purpose of influencing the control or direction of the
Company. Special Situations together with joint actors, if any, may,
subject to market conditions, make additional investments in or
dispositions of securities of the Company in the future, including
additional purchases of Shares. However, Special Situations and its
joint actors, if any, do not intend to acquire 20% or more of any class
of the outstanding voting or equity securities of the Company.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    RAB Special Situations L.P.
    Mr. Neil Warrender
    (44) 20-7389-7000
    (+44) 20 7389 7054 (FAX)
    nw@rabcap.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.