Orphan Boy Resources Inc.

Orphan Boy Resources Inc.

July 14, 2005 13:10 ET

Orphan Boy Resources Inc.: Private Placement of Shares

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 14, 2005) - Orphan Boy Resources Inc. (the Company) (TSX VENTURE:ORS) announces that it is negotiating a non-brokered private placement of up to 875,000 Units at $0.40 per Unit, for proceeds of up to $350,000. Each Unit is comprised of One (1) Flow-Through Common Share and One-Half (1/2) of one Warrant. Two half-warrants may be tendered for the purchase of One (non-flow-through) Common Share for up to two years from the date of closing at a price of $0.75 in the first year, and $1.00 in the second year.

Several limited partnerships of the MineralFields Group of Toronto, Ontario will be subscribing for between $175,000 and $225,000 of this offering. Upon closing, the Company expects to pay a finder's fee in cash and warrants to an arms-length third party in relation to MineralFields' participation.

Subscriptions received are subject to Board approval, and closing is subject to regulatory approval. All securities issued will be subject to a four month hold period under Canadian securities laws. Flow-through proceeds from this offering will be used for mineral exploration activities on the Company's properties in British Columbia, Canada.

About The Company

Orphan Boy Resources is a mineral exploration company focused on discovery and development of polymetallic, VMS and SEDEX deposits and showings in the Revelstoke region of south-eastern British Columbia, Canada. In addition to seven mineral properties, we own the fully-permitted 1,360 tonne-per-day Goldstream Custom Mineral Processing Plant.

On Behalf of Management:

David Martin-Smith, Chief Financial Officer and Director.

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

Contact Information

  • Orphan Boy Resources Inc.
    Mr. Ron Coombes
    President & CEO
    (604) 724-2369
    Orphan Boy Resources Inc.
    David Martin-Smith
    Chief Financial Officer and Director
    (604) 687-3521
    (604) 687-3561 (FAX)