Hornby Bay Exploration Limited
TSX VENTURE : HBE

Hornby Bay Exploration Limited

August 18, 2005 15:24 ET

Hornby Bay Exploration Closes $1.0 Million Financing

TORONTO, ONTARIO--(CCNMatthews - Aug. 18, 2005) - Hornby Bay Exploration Limited (TSX VENTURE:HBE) has closed with Desjardins Securities a private placement of 1,320,200 flow-through common shares at a price of $0.75 per share.

These flow-through common shares issued are subject to the applicable statutory hold period of four months.

The gross proceeds of approximately $1.0 million of this private placement will be used by the company to fund part of its current $7.0 million uranium exploration program on 218 mineral claims covering 214,900 hectares (531,000 acres) in northwest Nunavut.

The company's 2005 exploration program and schedule may be viewed on its website homepage www.hornbybay.com under the heading Latest Properties Presentation.

Shares Outstanding August 18, 2005: 84,541,987

Close August 17, 2005: $0.63

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS RELEASE.

Contact Information

  • Hornby Bay Exploration Limited
    George Bell
    President & CEO
    (416) 368-0114
    or
    Hornby Bay Exploration Limited
    Tom Devlin
    Secretary & Controller
    (416) 368-0114