Piper Capital Inc.

Piper Capital Inc.

February 24, 2005 13:43 ET

Piper Closes Private Placements and Announces Management Changes


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PIPER CAPITAL INC.

TSX VENTURE SYMBOL: PCL

FEBRUARY 24, 2005 - 13:43 ET

Piper Closes Private Placements and Announces
Management Changes

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 24, 2005) - Piper
Capital Inc. ("Piper") (TSX VENTURE:PCL) advises that further to the
Company's news release of January 6, 2005, Piper has partially closed
the private placements for 564,334 Units at $0.15 per Unit and 292,500
Units at $0.20 per Unit, each Unit consisting of one share and one-half
share purchase warrant, each warrant being exercisable until February
17, 2006 at an exercise price of $0.20 per share. The shares issued
pursuant to these private placements are subject to a four month hold
period which expires June 18, 2005.

The proceeds of the placements were used by the Company to fund the
acquisition of its 58.12% interest in the Golden Zone property in Alaska.

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 8013 hectares located 240km north of
Anchorage and just west of State Highway 3 on the lower south flank of
the Alaska Range.

The Company also announces the following management changes as of
February 18, 2005. Barry Domvile has resigned as President, CEO and
Director and has been appointed Vice President Development. Kenneth
Judge has been appointed CEO of the Company. Serena Domvile has also
resigned her position as Director.

Pamela Strand, COO & Director

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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.