BrazAlta Resources Corp.
TSX VENTURE : BRX

BrazAlta Resources Corp.

June 21, 2005 09:00 ET

BrazAlta Resources Corp. has Completed Private Placements Totaling $1,729,500

CALGARY, ALBERTA--(CCNMatthews - June 21, 2005) - BrazAlta Resources Corp. (TSX VENTURE:BRX) ("BrazAlta") is pleased to report it has closed the final tranche of its previously announced brokered private placement with Octagon Capital Corporation. An aggregate of 3,659,000 Units at a price of $0.35 per Unit were issued for gross proceeds of $1,280,650 in two tranches, in addition BrazAlta also recently completed a non-brokered private placement for proceeds of $448,850. The final tranche consisted of 1,074,500 Units. Each Unit is comprised of one common share ("Common Share") and one half of one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one Common Share at a price $0.50 per Common Share for a period of 12 months.

After giving effect to the private placement, BrazAlta now has 14,403,253 Common Shares issued and outstanding. Octagon Capital Corporation received a fee in cash and securities for acting as agent. The net proceeds of the private placement are expected to be applied to seismic and drilling costs at the Corporation's South Larne License in Northern Ireland, as well as initial lease purchases in Brazil.

The securities issued in connection with the private placement are subject to a four month statutory resale restriction.

In addition the company has granted 443,000 options at $0.40 per Common Share for management and key personnel.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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