DEEP RESOURCES LTD.

DEEP RESOURCES LTD.

March 07, 2005 17:52 ET

Deep Resources Announces New Directors


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DEEP RESOURCES LTD.

TSX VENTURE SYMBOL: DEP

MARCH 7, 2005 - 17:52 ET

Deep Resources Announces New Directors

CALGARY, ALBERTA--(CCNMatthews - March 7, 2005) - Deep Resources Ltd.
(TSX VENTURE:DEP) ("Deep" or the "Company") is pleased to announce that
James C. ("Jim") Smith has been appointed to the Board of Directors of
the Company to serve until the next annual meeting. The Company is also
pleased to announce that R.E. (Bob) Geddes has been appointed as a
consultant to the Company to provide consulting services to the Company
on Board matters. It is intended that Messrs. Smith and Geddes will be
included in the slate of directors for the next annual meeting of the
Company.

Mr. Smith is currently Chief Financial Officer of Mercury Energy
Corporation and member of the Boards of Directors of Grand Petroleum
Inc. and TAG Oil Ltd. He brings over 30 years of financial based
experience to Deep's Board and has been a senior executive and officer
of numerous public companies, including Amoco Canada, Crestar Energy and
Dome Petroleum. Mr. Smith is a Chartered Accountant and holds a Bachelor
of Arts degree from the University of Toronto and has also completed the
Program for Senior Executives at the Massachusetts Institute of
Technology.

Mr. Geddes is currently President of Canadian Operations for Ensign
Resource Service Group Inc. He brings to Deep's Board over 25 years of
industry expertise as an executive in the oil and gas service industry.
Mr. Geddes is Past Chairman of the Board of CAODC, a professional
engineer and holds a Bachelor of Science Degree in Mechanical
Engineering from the University of Alberta.

Deep's Board of Directors has also granted an aggregate of 200,000
options of the Company to the new directors at an exercise price of
$1.30 with a five year term and certain vesting provisions.

Deep is a publicly traded Canadian energy company involved in the
exploration, development and production of natural gas and crude oil in
western Canada.

Certain information regarding the Company contained herein may
constitute forward-looking statements under applicable securities laws.
Such statements are subject to known or unknown risks and uncertainties
that may cause actual results to differ materially from those
anticipated or implied in the forward-looking statements.

Common Shares Outstanding: 32,491,254

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Deep Resources Ltd.
    Eugene A. Wasylchuk
    President and Chief Executive Officer
    (403) 262-2129
    (403) 262-2190 (FAX)
    Email: eugene.wasylchuk@deepresources.com
    or
    Deep Resources Ltd.
    Warren F. E. Coles
    Chief Financial Officer
    (403) 265-2195
    (403) 262-2190 (FAX)
    Email: warren.coles@deepresources.com
    or
    Deep Resources Ltd.
    710, 400 - 5th Avenue S.W.
    Calgary, Alberta T2P 0L6
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the information contained
    herein.