MBA GOLD CORP.

MBA GOLD CORP.

March 24, 2005 18:19 ET

MBA Gold Corp.: Private Placement; Further New Brunswick Oil and Gas Exploration and Testing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MBA GOLD CORP.

TSX VENTURE SYMBOL: MBA

MARCH 24, 2005 - 18:19 ET

MBA Gold Corp.: Private Placement; Further New
Brunswick Oil and Gas Exploration and Testing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2005) - MBA Gold
Corp. (TSX VENTURE:MBA) announced today that it is proceeding, subject
to regulatory approval, with a non-brokered private placement of up to
1,000,000 Units at a price of $0.25 per Unit to raise gross proceeds of
$250,000. Each Unit will consist of one "flow through" common share and
one non-flow through warrant to purchase an additional common share of
MBA at a price of $0.30 for one year.

The proceeds of the placement will be used to fund continuing oil and
gas exploration expenditures in Eastern Canada, the next step of which
will be a perforation and testing program on the Company's recently
drilled MBA-Contact Gautreau F-59-2328 in the Stoney Creek region of New
Brunswick. This program is expected to commence in early April.

MBA Energy Corporation is a wholly-owned subsidiary of MBA Gold Corp., a
natural resource company whose strategy is to acquire a portfolio of
properties that have indicated resources and require further exploration
or development work. MBA will add value to these projects by providing
capital, exploration expertise and where justified, development and
production planning.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    MBA Gold Corp.
    Mr. Cam White
    (604) 707-0373
    Website: www.mbagold.com