Admiral Bay Resources Inc.
TSX VENTURE : ADB

Admiral Bay Resources Inc.

June 28, 2005 14:24 ET

Admiral Bay Closes C$5 Million Private Placement

TORONTO, ONTARIO--(CCNMatthews - June 28 2005) - Admiral Bay Resources Inc. (TSX VENTURE:ADB) announced today that it has closed its C$5 million non-brokered private placement through the issuance of Units priced at $1.00. Each Unit consists of one common share and one half common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at the price of $1.40 until June 28 2006. The private placement offering is subject to regulatory approval.

Proceeds of this placement will be used to continue the aggressive development of the Company's Oil & Gas projects in the United States. The proceeds are budgeted for drilling, well completions, the building of infrastructure and acquisition of additional acreage.

Admiral Bay Resources Inc. (www.admiralbay.com) is a Canadian listed oil and gas exploration and development company focused on developing its U.S. projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin, in Pennsylvania. Coalbed methane (CBM) and conventional oil & gas production has begun at the Shiloh, Devon and Quest projects in Kansas and Utah. The Company is listed on the TSX Venture Exchange.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".

The TSX Venture Exchange does not accept responsibility for the adequacy of this release

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