MBA Resources Corp.

MBA Resources Corp.

April 07, 2006 19:59 ET

MBA Resources Corp.: News Release

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 7, 2006) - MBA Resources Corp. (TSX VENTURE:MBA) (the "Company") has been advised that certain shareholders of MBA (the "Shareholders"), have acquired by way of Private Placement in accordance with the Policies of the TSX Venture Exchange, Convertible Debentures with share purchase warrants (the "Debenture Warrants") and Units, each Unit comprised of 1 common share and one share purchase warrant of the Company. The following table sets out the names of the Shareholders, the amount of Debentures, Debenture Warrants and Units acquired by each.

Debenture Deemed % Deemed
Name Debentures Warrants Units Ownership Ownership
(1) (2)
Cameron White $ 60,000 324,324 1,180,000 4,761,529 21.6%
Surrey, BC
Timothy Gamble $200,000 1,081,081 1,000,000 6,872,998 30%
Vancouver, BC
Reg Worthington $300,000 1,621,622 500,000 6,760,141 29.1%
Bali, Indonesia
Stephen Cheikes $400,000 2,162,162 0 6,742,556 29%
West Vancouver BC

- Deemed Ownership includes all shares deemed to be owned assuming full conversion of Debentures and exercise of all warrants and incentive stock options by the each Shareholder, directly or indirectly.

- % Deemed Ownership is calculated on a partially diluted basis assuming that no other shareholders exercise or convert debentures, warrants or options.

All Shareholders have advised that their current intentions are that all of the securities were acquired for investment purposes but the Shareholders, or any one of them may, from time to time, reconsider his holdings in the Company and, as circumstances dictate, may increase or decrease his position in the Company.

The Company is further advised that reports relating to these matters are being filed with the British Columbia and Alberta Securities Commissions by the Shareholders. A copy of the reports may be obtained from the Company on behalf of the Shareholders by calling 604-707-0373.


W.D. Cameron White

President and Chief Executive Officer

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

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