Garrison International Ltd.

Garrison International Ltd.

July 21, 2005 12:01 ET

Garrison Expands its Board of Directors & Announces Proposed Private Placement

TORONTO, ONTARIO--(CCNMatthews - July 21, 2005) - Garrison International (TSX VENTURE:GAU) is pleased to announce that Mr. Blair Krueger has joined the board of directors. Mr. Krueger, MBA, BSc (Physics) provides financial advisory services to clients in Canada with a specialty focus on China and the mining industry in China.

Proposed Private Placement

Garrison announces that it has agreed to a non-brokered proposed private placement for issuance of up to 22,500,000 units at $0.20 per unit. Each unit is comprised of one common share and one common share purchase warrant, exercisable at $0.30 for a period of 2 years from the date of issuance.

Confirming Automatic Exercise of Conversion Warrants

The final receipt for Garrison's prospectus dated May 30, 2005 was issued on June 1, 2005 by the Ontario Securities Commission. Thus the conversion warrants of Garrison were automatically exercised on June 6, 2005, being the fifth day following the date of the issuance of the final receipt.

Conversion warrants were attached to common shares issued in 2003 and 2004 in various private placement financings of the Company that closed prior to the implementation of amendments to the resale provisions of applicable securities laws. The conversion warrants were originally issued with the intent that upon filing of the final prospectus, the common shares issued pursuant to the private placement would automatically convert to free trading common shares thereby eliminating the hold periods applicable to the privately placed securities. As a result of the amendments to the resale provisions of applicable securities laws, the need for the conversion warrants was eliminated. No additional securities were or are issuable pursuant to the conversion warrants, and the common share certificates currently held by conversion warrant holders continue to represent the common shares.

About Garrison

Garrison is junior mineral exploration company subject to the laws of Ontario. Garrison is focused on acquiring and developing advanced stage, high quality, gold properties in China. For complete details on Garrison and its partners, management encourages investors and interested parties to consult the final prospectus of Garrison dated May 31, 2005 and filed on SEDAR.

Forward-Looking Statements

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Garrison. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Garrison assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

Shares Outstanding - 37,130,057

Contact Information