Pacific Comox Resources Ltd.

Pacific Comox Resources Ltd.

June 28, 2005 11:37 ET

Pacific Comox Resources Ltd.: $205,000 First Tranche Closing of Financing

TORONTO, ONTARIO--(CCNMatthews - June 28, 2005) - Pacific Comox Resources Ltd. (TSX VENTURE:PCM) is pleased to announce the $205,000 first tranche closing of its brokered private placement offering announced on May 11, 2005. This closing is for $143,000 of Flow-Through units and $62,000 of Common Share units. Each Flow-Through Unit consists of one flow-through common share and one-half of one common share purchase warrant. Each Common Share Unit consists of one common share and one common share purchase warrant. Each whole Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of C$0.10 per Warrant Share for a period of eighteen months from the Closing of the Offering. Completion of the Offering is subject to receipt by the Company of all necessary regulatory approvals. The securities to be issued under the Offering will be subject to a four month hold period.

Integral Wealth Securities Limited is the agent for the Offering.

The Company plans to use the net proceeds of the Offering to diamond drill and explore its Ryan Lake copper-molybdenum property near Matachewan, Ontario and working capital.

Donald Empey

Pacific Comox Resources Ltd.
One Dundas Street West, Suite 2300, Box 13,
Toronto, Ontario Canada M5G 1Z3

Contact Information