BrazAlta Resources Corp.

BrazAlta Resources Corp.

March 03, 2005 09:00 ET

BrazAlta Announces New Board Member and Non-Brokered Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BRAZALTA RESOURCES CORP.

TSX VENTURE SYMBOL: BRX

MARCH 3, 2005 - 09:00 ET

BrazAlta Announces New Board Member and Non-Brokered
Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 3, 2005) - Mr. John R. MacMillan,
President and CEO of BrazAlta Resources Corp. (TSX VENTURE:BRX)
("BrazAlta"), is pleased to announce that Mr. Lou MacEachern has agreed
to join the Board of Directors of BrazAlta effective immediately.

Mr. MacEachern increases the Board to five members being the third
independent Director. Mr. MacEachern brings to BrazAlta extensive
International Oil & Gas experience. Mr. MacEachern is currently a Board
of Director of PetroKazakhstan, which is listed on the New York, (PKZ:
NYSE) Toronto, (PKZ: TSX) and London stock exchanges. In addition to
PetroKazakhstan, Mr. MacEachern serves on a number of other TSX listed
Company and Public Service Organization Boards. Mr. MacEachern is the
President and owner of Fortune Industries Ltd. Fortune Industries was
the major shareholder in the Servpro/Dalco Group of companies, with
businesses in Calgary, Alberta, until the sale of that group in 1999.

We welcome the contribution that Mr. MacEachern will bring to BrazAlta.

Non-Brokered Private Placement

BrazAlta also intends to complete a private placement to raise up to
$350,000. BrazAlta will issue up to 1,000,000 units at $0.35 per unit.
Each unit will consist of one common share and one half common share
purchase warrant. Each warrant will entitle the holder thereof to
purchase one common share at any time for a period of 24 months
following the closing date at a price of $0.45 per common share. The
securities will be subject to a four-month hold period.

Upon closing of the maximum Private Placement, BrazAlta will have
10,454,633 common shares outstanding.

In conjunction with the board appointment, Mr. MacEachern is prepared to
subscribe for 600,000 units of the Private Placement.

BrazAlta is a publicly traded Canadian based international oil & gas and
resource company with operations in both Canada and Northern Ireland.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    BrazAlta Resources Corp.
    John R. MacMillan
    President & CEO
    (403) 561-1648
    Email: jrmacmillan@brazalta.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.