Piper Capital Inc.

Piper Capital Inc.

March 22, 2005 16:16 ET

Piper Closes Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PIPER CAPITAL INC.

TSX VENTURE SYMBOL: PCL

MARCH 22, 2005 - 16:16 ET

Piper Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2005) - Piper
Capital Inc. ("Piper") (TSX VENTURE:PCL) is pleased to advise that Piper
has closed its recently announced private placement following receipt of
subscriptions for the issue of 3,045,000 Units at $0.20 per Unit for
total proceeds of $609,000. Each Unit consists of one share and one-half
of one share purchase warrant, each whole warrant being exercisable for
a period of one year at an exercise price of $0.25 per share. The
placement was increased by 545,000 units or $109,000 beyond the
originally contemplated placement size in response to investor demand.
The shares issued pursuant to this private placement are subject to a
four month hold period imposed by the applicable securities legislation
and the TSX Venture Exchange which expires July 22, 2005.

The proceeds from the private placement will be used to fund Piper's
exploration activities on its Golden Zone Project in Alaska. Those
activities will include a significant drilling program designed to
upgrade present resource estimates and test newly identified zones of
gold mineralization, with the drill program expected to commence in
early May as soon as weather permits mobilization of drilling equipment
and crews to the project site.

Editor's Note:

Piper is a gold exploration and development Company focused on the
productive Tintina Gold Belt of central Alaska within which past
production plus reserves exceed 100 million ounces gold. The Company's
principal project is the Golden Zone gold-copper property which consists
of mineral claims totaling 3600 hectares located 240km north of
Anchorage and just west of State Highway 3 on the lower south flank of
the Alaska Range.

ON BEHALF OF THE BOARD

Kenneth P. Judge, President & CEO


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Piper Capital Inc.
    Bob Anderson
    (604) 638-3954
    (604) 662-8429 (FAX)
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.