SOURCE: Cambodian Ventures Limited

July 20, 2006 06:00 ET

Cambodian Ventures Limited and Brighton Minerals Team Up to Develop Precious Mineral Properties in Cambodia

LOWELL, MA and PHNOM PENH, CAMBODIA -- (MARKET WIRE) -- July 20, 2006 -- Cambodian Ventures Limited (PINKSHEETS: CMBV) is pleased to announce that it has entered into a joint venture agreement with Brighton Minerals Limited of Australia for the purposes of assessing and acquiring gold and other precious metals mining properties in the Kingdom of Cambodia and adjoining countries.

Under the joint venture agreement, the parties will form a new company in the Kingdom of Cambodia, which will undertake all of the joint venture activities, including exploration and holding of the joint venture's mining properties.

The formation of the joint venture will combine the many resources and contacts of both parties, making the new entity a significant participant in the precious metals exploration and mining industry in the Kingdom of Cambodia. It will also give both parties the potential for further joint development and mining arrangements with other resource companies from North America and Australia.

Already the joint venture has undertaken the initial assessment of four highly prospective mining properties in the Kingdom of Cambodia. The acquisition and development of these properties should prove to be significantly profitable for both joint venture parties. These mining properties cover a broad commodity base of gold, lead, zinc and copper, with geological reports and evidence of previous mining on these properties offering great promise for their future development.

In addition to the synergies offered by this joint venture agreement, Cambodian Ventures will become a significant shareholder in the proposed stock exchange listing of Brighton Minerals Limited or one of its related companies in either the United Kingdom or Australia, giving the Company wide exposure to other mining projects around the world associated with the Brighton Resources Group.

Brighton Minerals Limited is part of the Brighton Resources Group in Australia and has already established strong mining and government connections in the Kingdom of Cambodia and nearby countries. Its executives and associates have enjoyed significant success with exchange listings and day-to-day management of large exploration and mining companies in Australia. Their combined years of mining experience, access to large capital financing, and team of geological experts will be greatly beneficial to the joint venture.

Managing Director of Brighton Minerals Limited, Jonathan Remta, stated, "I believe that Cambodia offers mining opportunities like no other country, and although exploration and mining development are still relatively grass roots and at an infant stage, it won't take long for a major discovery in Cambodia of a world class ore body. We are pleased to be teaming up with Cambodian Ventures which has made significant inroads in the region."

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