Rocky Mountain Resources Corp.
TSX VENTURE : RKY

Rocky Mountain Resources Corp.

January 21, 2010 15:06 ET

Rocky Mountain Appoints Bill Radvak as President & CEO

Robert Cross Joins Company's Advisory Committee

Private Placement of 1,200,000 Units at $0.30 Each; Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2010) - ROCKY MOUNTAIN RESOURCES CORP. (the "Company") (TSX VENTURE:RKY) announces the appointment of Bill Radvak as President, CEO and a member of the Board of Directors, effective immediately. Mr. Robert Cross has been appointed to the Company's Advisory Committee and Interim CEO Brian McAlister will remain an active member of the Board of Directors.

Mr. Radvak received a Mining and Mineral Process Engineering Degree (1986) from the University of British Columbia. Mr. Radvak is a co-founder and past Chief Executive Officer of Response Biomedical Corporation, a publicly listed medical device company that commercializes rapid immunoassay diagnostic tests for its marketing partners, 3M and Roche Diagnostics. Mr. Radvak led the Response Biomedical from its evolution to a 90-employee company and raised in excess of $50 million in public offerings.

Mr. Cross has more than 20 years of experience as a financier in the mining and oil & gas sectors. Mr. Cross is a co-founder and Non-Executive Chairman of Bankers Petroleum Ltd., Non-Executive Chairman of B2Gold Corp., and until October 2007, was the Non-Executive Chairman of Northern Orion Resources Inc. Between 1996 and 1998, Mr. Cross was Chairman and Chief Executive Officer of Yorkton Securities Inc. From 1987 to 1994, he was a Partner, Investment Banking with Gordon Capital Corporation in Toronto. He has an Engineering Degree from the University of Waterloo, and received his MBA from Harvard Business School in 1987.

The Company also announces a private placement to Mr. Radvak and Mr. Cross of 1,200,000 units at the price of CDN$0.30 per unit (the "Unit") for total proceeds of up to CDN$360,000. Each Unit will consist of one common share and one non-transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at a price of CDN$0.40 per common share for a period of 18 months from the date of issuance. The proceeds from the offering will be used for general working capital purposes. The securities issued under the private placement will be subject to a four month hold period from the date of issue and subject to regulatory approvals.

The Company also announces the granting of a total of 1,200,000 stock options at the exercise price of $0.35 each for a term of five years to its directors, officers and employees. The stock options are granted pursuant to the Company's Stock Option Plan, as amended.

Vanadium is growing in importance as an alloying metal used to strengthen steel as well as the emerging uses with lithium vanadium batteries and storage cells for renewable energy. With virtually all world production of vanadium coming from China, South Africa and Russia, the Company's Gibellini project, being located in Nevada, gives the Company the opportunity to become North America's first and only primary producer of Vanadium. A Scoping Study has been completed by AMEC E&C Services and is available on Sedar and the Company's website.

Information on the company and the projects is found at www.rkyresources.com.

ON BEHALF OF THE BOARD

Brian McAlister, Director

NEITHER TSX VENTURE EXCHANGE NOR THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA ACCEPTS RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.

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