SOURCE: Cambodian Ventures Limited

February 21, 2006 10:28 ET

Cambodian Ventures Limited in Negotiations to Acquire Working Interest in Producing Kratie Province Gold Mining License

LOWELL, MA and PHNOM PENH, CAMBODIA -- (MARKET WIRE) -- February 21, 2006 --Cambodian Ventures Limited (OTC: CMBV), announced today that it is negotiating to acquire up to an 80% working interest in a producing gold mine in the Koh Khner area, Sambo District, Kratie Province in the Kingdom of Cambodia. The site is forty-nine (49) square kilometres and includes one site that is currently being actively mined by CHHUNG KOR CHHEAN PEAN CO., Ltd.

Gary Fineberg, CEO of Cambodian Ventures Limited, stated: “The site currently has 24 men working two shifts processing ore. With the proper equipment, PEAN estimates that the site will be able to process up to 70 tons of ore per day. PEAN estimates of the concentration of gold are approximately 37.5 grams per ton. Processing 70 tons per day, this averages out to approximately 2,625 grams of gold per day, or approximately $46,875/day. We are currently evaluating and verifying the data provided by the mine owners and determining the investment necessary to create production at levels that PEAN indicated. Further information will be provided as negotiations progress and we obtain additional geological data.”

Cambodian Ventures Limited’s mission is to obtain licenses for the exploration and mining of precious minerals in Cambodia. Cambodian Ventures intends to carry out exploration activities in regions containing gold and other precious minerals. It is management's opinion that the high-quality minerals such as gold, zinc and other resources in Cambodia are largely untapped, and the opportunity exists for significant positive development.

Safe Harbor Statement: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.

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