Orphan Boy Resources Inc.

Orphan Boy Resources Inc.

September 15, 2005 10:05 ET

Orphan Boy Resources Inc.: Corporate Information

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 15, 2005) - Orphan Boy Resources Inc. (the Company), (TSX VENTURE:ORS) reports on the following Corporate developments:


Late Monday, the Company was provided with notice under the Business Corporations Act (BC), by a group of shareholders, led by the Company's former chief executive officer, requisitioning a meeting of shareholders to try to replace the board of directors. Certain allegations were made in a recent news release by the dissident board member regarding the board and management of the Company, but which did not provide a complete summary of the events leading to the recent change of management.

The Company wishes to inform all of our shareholders, that there is no dissention amongst the board of directors, except for the former chief executive officer. The Company's directors, save for one new independent director appointed unanimously in June, were all duly elected by the shareholders at the Company's last Annual General Meeting held on May 28, 2005.

Based on many performance factors, including a declining share price, the board, including the former officer unanimously accepted the resignation of the former officer as president and chief executive, and unanimously appointed Mr. David Martin-Smith as the new President and CEO of the Company. Within days of that decision, the former officer began to express his displeasure, with a view to ousting the rest of the board. In the recent news release, the directors are accused of being loyal to Mr. Chapman, as opposed to acting in the best interest of the Company. The Directors named in the notice indeed understand their duty to act in the best interests of the Company, and have made a difficult decision that would have been easier to simply avoid. The directors have, and will continue to meet their obligations as public company directors.

Management is discussing the Company's options with legal counsel. Further information will be released when available.


The board of directors at a meeting today, terminated the position of Chairman of The Board.


The proposed private placement of shares announced in NR-05-13 has been cancelled.


Effective immediately, our new office address is Suite 951 - 409 Granville Street, Vancouver, BC, V6C 1T2. Our telephone, facsimile, and email are unchanged.

On Behalf of the Board

David Martin-Smith, President, CEO & Director.

The TSX Venture Exchange has in no way approved nor disapproved the contents of this news release.

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