Rock Creek Resources Ltd.

Rock Creek Resources Ltd.

March 30, 2005 11:00 ET

Rock Creek Increases Reserves by 173% in 2004


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ROCK CREEK RESOURCES LTD.

TSX VENTURE SYMBOL: RCR.A
TSX VENTURE SYMBOL: RCR.B

MARCH 30, 2005 - 11:00 ET

Rock Creek Increases Reserves by 173% in 2004

CALGARY, ALBERTA--(CCNMatthews - March 30, 2005) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES.

Rock Creek Resources Ltd. (TSX VENTURE:RCR.A) (TSX VENTURE:RCR.B) ("Rock
Creek" or the "Company") today announces summary information from its
independent reserve evaluation and independent land evaluation. The
reserve evaluation was completed by AJM Petroleum Consultants and the
land evaluation was prepared by Seaton Jordan & Associates Ltd., both
effective December 31, 2004 and prepared in accordance with National
Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI
51-101). Rock Creek expects to release its audited financial statements
for the year ended December 31, 2004 on April 11, 2005.

HIGHLIGHTS

Highlights of the reserve and undeveloped land reports, in comparison to
the prior year end include:

- An increase of 173% in total Proved plus Probable (P+P) reserves to
2.2 million boe,

- An increase of 171% in NPV 10% (before income taxes) of total P+P
reserves to $34.9 million,

- Proved plus probable reserve additions replaced 2004 average
production by 725%,

- Net undeveloped land holdings increased 93% to 52,830 net acres,

- An increase of 106% in net undeveloped land value to $5.6 million.

RESERVES

At December 31, 2004 the Company's proved plus probable reserves
increased 173 percent to 2.2 million barrels of oil equivalent (boe)
compared to 0.8 million boe at December 31, 2003. These values exclude
the Company's successful Gift area drilling program in the first quarter
2005 that are anticipated to positively enhance Rock Creek's reserve and
value base. Approximately 50 percent of the year-end reserves are light
crude oil and natural gas liquids with the remaining 50 percent
comprised of natural gas.

Rock Creek's 2004 capital program totaled $22.4 million (unaudited),
maintaining zero net debt at year-end, and delivered solid results with
total proved plus probable reserve additions of 1.64 million boe. These
reserve additions replaced the Company's 2004 average production of 620
boe/d by 725 percent at an estimated cost of $15.03 per boe, including
future capital requirements on a proven plus probable basis, and $20.87
on a proven basis. The Company's reserve life index using the annualized
2004 exit production rate is 7.4 years against proved plus probable
reserves and 5.3 years on a proven basis.

The following tables summarize the Company's working interest reserves,
before royalties, at December 31, 2004 under forecast pricing
assumptions. (1,2,3,4)



------------------------------------------------------------------------
Reserves 2004 2003
Natural Oil Oil
Oil & NGL Gas Equiv. Equiv. %
(mbbls) (mmcf) (mboe) (mboe) Increase
------------------------------------------------------
Proved
Developed
Producing 470 2,374 866 325 166%
Developed
Non-Producing 0 241 40 276 (85%)
Undeveloped 279 2,246 653 0 -
------------------------------------------------------
Total Proved 748 4,861 1,558 601 159%

Probable 355 1,938 678 217 212%
------------------------------------------------------
Proved plus
Probable 1,104 6,799 2,237 819 173%

Possible 0 3,202 534 0 -
------------------------------------------------------
Proved plus
Probable plus
Possible 1,104 10,001 2,771 819 238%
------------------------------------------------------------------------


------------------------------------------------------------------------
Net Present Value, $000 Discounted at
0% 5% 10% 15%
---------------------------------------------
Proved
Developed Producing 21,730 19,635 17,961 16,598
Developed Non-Producing 1,110 991 895 815
Undeveloped 12,859 10,106 8,189 6,795
---------------------------------------------
Total Proved 35,698 30,733 27,045 24,208

Probable 15,473 10,552 7,868 6,200
---------------------------------------------
Proved plus Probable 51,172 41,285 34,913 30,408

Possible 11,052 5,067 2,785 1,738
---------------------------------------------
Proved plus Probable
plus Possible 62,224 46,352 37,698 32,146
------------------------------------------------------------------------


------------------------------------------------------------------------
2004 Reserves Total Proved
Reconciliation Total Proved plus Probable

Oil & Natural Oil Oil & Natural Oil
NGL Gas Equiv. NGL Gas Equiv.
(mbbls) (mmcf) (mboe) (mbbls) (mmcf) (mboe)
-----------------------------------------------------
December 31, 2003 379 1,261 601 535 1,702 819

Discoveries &
Extensions 281 1,685 560 572 2,597 1,003
Technical
Revisions 206 440 280 127 340 183
Acquisitions 0 2,054 342 0 2,739 457
Dispositions - - - - - -
Production (130) (579) (227) (130) (579) (227)

December 31, 2004 748 4,861 1,558 1,104 6,799 2,237
------------------------------------------------------------------------


(1) The forecast prices used in the report were AJM Petroleum
Consultant's price forecast as of December 31, 2004, available at
www.ajma.net.

(2) Values are net of future capital expenditures and abandonment
liabilities totaling $0.6 million for proved reserves and $3.9 million
for proved plus probable reserves.

(3) Oil equivalent amounts have been calculated using a conversion rate
of 6 mcf of natural gas to one barrel of oil.

(4) Numbers in these tables are subject to round off error.

Detailed reserves and future cash flows based on the AJM Petroleum
Consultants evaluation effective December 31, 2004 including NI 51-101
Forms F1, F2 and F3 may be found on SEDAR (www.sedar.com).

Rock Creek is an emerging junior oil and gas exploration and production
company operating in western Canada. Rock Creek's Class A and Class B
shares trade on the TSX Venture Exchange under the symbols "RCR.A" and
"RCR.B", respectively. At December 31, 2004 the Company had 18,409,331
Class A shares outstanding; 1,589,250 Class A options; 832,500 Class B
shares; 1,992,011 Class A Warrants exercisable at $2.75 until October,
2005.

Reader Advisory

Information contained herein may include forward-looking statements
including opinions, assumptions, estimates and expectations of future
production, cash flow and earnings. When used in this document, the
words "anticipate," "believe," "estimate," "expect," "intent," "may,"
"project," "plan", "should" and similar expressions are intended to be
among the expressions that identify forward-looking statements.
Forward-looking statements are subject to a wide range of risks and
uncertainties. Although the Company believes that the expectations
represented by such forward-looking statements are reasonable, there can
be no assurance that such expectations will be realized.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Rock Creek Resources Ltd.
    Mickey D. Taylor
    President & Chief Executive Officer
    (403) 537-1132 or Toll Free: 1-866-289-8564
    (403) 537-1138 (FAX)
    Email: info@rockcreek.ca
    Website: www.rockcreek.ca
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.