Infiniti Resources International Ltd.
TSX VENTURE : IRL

Infiniti Resources International Ltd.

July 05, 2005 08:30 ET

Infiniti Resources Announces Private Placement

CALGARY, ALBERTA--(CCNMatthews - July 5, 2005) - Infiniti Resources International Ltd. (TSX VENTURE:IRL) announces that it has engaged Canaccord Capital Corporation to conduct a private placement of up to 1,375,000 common shares to be issued on a flow-through basis, at a price of $0.36 per share. Shares will be subject to a four-month hold period. Canaccord is to receive a cash commission of 8% plus a 1% corporate finance fee.

The private placement is scheduled to close during the middle of July 2005. Completion of the offering is subject to TSX Venture Exchange approval.

Net proceeds from the share issue will be applied to Infiniti's capital investment program.

Proposed Plan of Arrangement between Infiniti Resources and Welton Energy Corporation

As previously announced, Infiniti has filed with regulatory authorities its "Information Circular with respect to a Proposed Plan of Arrangement involving Infiniti Resources International Ltd. and Welton Energy Corporation." Copies of the circular may be accessed from the SEDAR website, at www.sedar.com.

The circular is being mailed to Infiniti shareholders for voting on the proposed plan of arrangement at a meeting to be held August 3, 2005 in Calgary. Closing of the transaction is to occur immediately thereafter, subject to shareholder and court approval.

Shares for Debt

Documentation has been filed with the TSX Venture Exchange for issue to an Infiniti officer of 78,952 common shares in lieu of cash payment of fees totalling $15,000 for the period August 1, 2004 to May 31, 2005 pursuant to the officer's executive services contract. The shares are priced at the monthly volume-weighted average trading price of the Company's shares on the TSX Venture Exchange over this period.

Infiniti Resources International Ltd. is an emerging Canadian exploration and production company focused on creating profitable growth through deep, high-impact projects in Western Canada. Infiniti trades on the TSX Venture Exchange under the symbol "IRL".

Infiniti's public disclosure is available on SEDAR at www.sedar.com. Supplemental information, including links to information on Welton Energy Corporation, may be found at www.infiniti-resources.com.

Forward-looking and estimated information is included in the foregoing. While considered reasonable by Infiniti at the time, such forward-looking and estimated information may be incorrect, and future events and results may differ materially from forward-looking information.

WARNING: Infiniti relies on litigation protection for forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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