SOURCE: HE-5 Resources, Corp.

May 03, 2006 08:30 ET

HE-5 Resources, Corp. Forms Joint Venture With Sand Oil, Inc. for Ruby #1 and #2 Mine Project

NEW YORK, NY -- (MARKET WIRE) -- May 3, 2006 -- HE-5 Resources, Corp. (OTC: HRRP), today announced that it has signed a Joint Venture Agreement with Sand Oil, Inc. (OTC: SDOI) in regards to the Ruby #1 and #2 Mine Project situated in Mono County, California. As per the Agreement, HE-5 Resources has sold to Sand Oil a 50% interest over a 5 year-period in the Ruby #1 and #2 Mine Project. In return for its investment, Sand Oil will receive 50% of the operating profits and be responsible for 50% of the expenses relating to this Project. Shareholders may access further details on the Ruby #1 and #2 Mine Project via the HE-5 Resources Corporate website by clicking on the following link: http://www.he-5resourcescorp.com/ruby.html

HE-5 Resources is also pleased to report that it will use the substantial proceeds from the sale of a 50% interest in the Ruby #1 and #2 Mine Project towards the Overman Property Project. This injection of capital will accelerate the exploration and development of the Overman Property and ensure that production commences by this November. HE-5 has decided to focus most of its efforts on the Overman Property Project and as stated in the last Press Release, it is about one month ahead of schedule with respect to the first task in the Proposed Work Schedule and sufficient funds have been secured to cover the total pre-production expenses, as outlined in the Preliminary Budget. Due to its strategic position on the Comstock Lode in Nevada, the Overman Property is one of the district's larger producers and ranks at the top of the district's properties in terms of its potential to generate a significant tonnage of material suitable for heap-leaching. HE-5 will employ the heap-leaching equipment that is already on-site to execute the gold extraction process.

About HE-5 Resources, Corp.

HE-5 Resources, Corp. (HE-5) is a growth-oriented and emerging natural resources company. HE-5's mission is to maximize shareholder value by investing in pre-production mining projects, which are undervalued and have proven reserves that will increase the revenue and profit of the Company. HE-5's goal is to establish a vast mineral reserve and resource base with a focus on the following 5 metals: gold, silver, copper, zinc and platinum.

For more information on HE-5 Resources, Corp. please contact CEO Denyse Raynault at Raynault@he-5resourcescorp.com or visit the Corporate website at www.he-5resourcescorp.com.

For more information on Sand Oil, Inc. please contact CEO George Abisaleh at georgeabi@rogers.com. Please note that the Corporate website is currently under construction to reflect the new strategy and operations of the Corporation.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

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