Infiniti Resources International Ltd.
TSX VENTURE : IRL

Infiniti Resources International Ltd.

July 15, 2005 15:03 ET

Infiniti Resources Closes Financing and Provides Corporate and Drilling Update

CALGARY, ALBERTA--(CCNMatthews - July 15, 2005) - Infiniti Resources International Ltd. (TSX VENTURE:IRL) announces that it has closed its previously announced private placement of 1,375,000 flow-through common shares at a price of $0.36 per share, for gross proceeds of $495,000. The shares will be subject to a four-month hold period. Canaccord Capital Corporation acted as broker for this transaction.

Previously Announced Proposed Plan of Arrangement between Infiniti Resources and Welton Energy Corporation

Infiniti has mailed to its shareholders the "Information Circular with respect to a Proposed Plan of Arrangement involving Infiniti Resources International Ltd. and Welton Energy Corporation." Copies of the circular for this previously announced transaction can be accessed on SEDAR at www.sedar.com.

Infiniti shareholders are to vote on the proposed plan of arrangement at a meeting on August 3, 2005 in Calgary. Closing of the transaction is to occur immediately thereafter, subject to shareholder and court approvals.

Chime Deep Gas Drilling

Infiniti has opted to participate as to a 21% interest in the drilling of another deep gas well in the Chime area of the Alberta Deep Basin.

This new well location offsets the Infiniti-operated Chime 7-31-60-5W6M well (Infiniti 20% interest), which has produced over 1.5 BCF (raw) since being placed on stream at the end of 2002 and continues to produce in the range of 1.5 MMCF/d (raw). The new well is scheduled to commence drilling in the first half of August 2005 and reach total depth within two months thereafter.

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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