Bear Ridge Resources Ltd.
TSX : BER

Bear Ridge Resources Ltd.

February 03, 2005 23:59 ET

Bear Ridge Resources Ltd. Announces $7.1 Million Private Placement Bought Deal Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR THE DISSEMINATION IN THE UNITED STATES

CALGARY--(CCNMatthews - Feb. 3) - Bear Ridge Resources Ltd. ("Bear Ridge") announced today that it has
entered into a bought deal private placement of 2,000,000 common shares at $3.55 per share for total
gross proceeds of $7,100,000. The common shares will be issued through a syndicate of underwriters led
by GMP Securities Ltd. and including Tristone Capital Inc., Canaccord Capital Corporation and First
Associates Investments Inc. as underwriters. Closing is expected to take place on or about February
16, 2005 and is subject to normal regulatory approvals. The net proceeds received from the sale of the
Common Shares will be used to fund the continued exploration and development of Bear Ridge's
properties.

Bear Ridge is a junior Canadian exploration, development and production company with operations
focused in the West Central and Peace River Arch areas of Alberta. Bear Ridge common shares are listed
on the TSX under the symbol "BER", and the Company will have approximately 18.1 million common shares,
6.3 million preferred shares and 2.9 million preferred share purchase warrants outstanding after
closing this issue.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the
securities in any jurisdiction. Such securities have not been registered under the United States
Securities Act of 1933 and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.

Statements in this press release may contain forward-looking statements including expectations with
respect to future events and the actions of third parties. These statements are based on current
expectations that involve a number of risks and uncertainties, which could cause actual results to
differ materially from those anticipated. These risks include, but are not limited to: the underlying
risks of the oil and gas industry (i.e. operational risks in development, exploration and production;
potential delays or changes in plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections
relating to production, costs and expenses, and health, safety and environmental factors), commodity
price and exchange rate fluctuation and uncertainties.

Contact Information

  • Bear Ridge Resources Ltd.
    Russell J. Tripp
    Chairman and Chief Executive Officer
    (403) 537-8440
    or
    Bear Ridge Resources Ltd.
    Douglas C. Hibbs
    President
    (403) 537-8440
    or
    Bear Ridge Resources Ltd.
    Brian A. Baker
    Vice President, Finance and Chief Financial Officer
    (403) 537-8440
    (403) 537-8450 (FAX)
    or
    Bear Ridge Resources Ltd.
    2200, 330 - 5th Avenue S.W.
    Calgary, Alberta T2P 0L4