Defiant Resources Corporation

Defiant Resources Corporation

March 03, 2005 10:53 ET

Defiant Resources Corporation Announces Completion of Common Share Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DEFIANT RESOURCES CORPORATION

TSX SYMBOL: DFR

MARCH 3, 2005 - 10:53 ET

Defiant Resources Corporation Announces Completion of
Common Share Private Placement

CALGARY, ALBERTA--(CCNMatthews - March 3, 2005) - Defiant Resources
Corporation (TSX:DFR) ("Defiant" or the "Company") today announced that
it has closed its previously announced private placement of 2,950,000
common shares of Defiant at a price of $2.55 per common share, resulting
in gross proceeds of $7,522,500. This financing was led by Raymond James
Ltd., and included GMP Securities Ltd., Clarus Securities Inc.,
Canaccord Capital Corporation, McFarlane Gordon Inc., Salman Partners
Inc. and Dundee Securities Corporation.

Proceeds of the common shares offering will be used to fund the
Company's 2005 capital program.

Forward Looking Statements - Certain information regarding Defiant
Resources Corporation set forth in this document, including management's
assessment of Defiant Resources Corporation's future plans and
operations, contains forward-looking statements that involve substantial
known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain of
which are beyond Defiant Resources Corporation's control, including the
impact of general economic conditions, industry conditions, volatility
of commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers, the
lack of availability of qualified personnel or management, stock market
volatility and ability to access sufficient capital from internal and
external sources. Defiant Resources Corporation's actual results,
performance or achievement could differ materially from those expressed
in, or implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do
so, what benefits that Defiant Resources Corporation will derive
therefrom.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Defiant Resources Corporation
    David J. Evans
    Chairman of the Board & C.E.O.
    (403) 218-4101
    or
    Defiant Resources Corporation
    Rick J. Ironside
    President & COO
    (403) 218-4104
    or
    Defiant Resources Corporation
    Timothy V. Dunne
    V.P., Finance & C.F.O.
    (403) 218-4111