Bear Ridge Resources Ltd.

Bear Ridge Resources Ltd.

February 16, 2005 23:59 ET

Bear Ridge Resources Ltd. Closes $7.8 Million Private Placement Bought Deal Financing

CALGARY--(CCNMatthews - Feb. 16) - Bear Ridge Resources Ltd. ("Bear Ridge") is pleased to announce
that it has closed its previously announced bought deal private placement including the exercise by
the underwriters of their option for an additional 200,000 shares. Bear Ridge issued 2,200,000 common
shares at $3.55 per share for total gross proceeds of $7,810,000 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. 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

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 has approximately 18.3
million common shares and 6.3 million preferred shares outstanding. The common shares of Bear Ridge
are listed on the Toronto Stock Exchange, under the symbol "BER".

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