RockBridge Resources Inc.

RockBridge Resources Inc.

December 22, 2010 15:21 ET

RockBridge Resources Announces 2nd Tranche of Its $1.2 Million Non-Brokered Common & Flow Through Share Financing and Mineral Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2010) - RockBridge Resources Inc. ("RockBridge" or the "Company") (TSX VENTURE:RBE) is pleased to update the offering private placement of 5,000,000 Units at $0.12 per Unit comprised of one regular Common Share and one-half Common Share Warrant; and 4,000,000 Flow-Through Units at $0.15 per Unit comprised of one Flow-Through Common Share and one-half Common Share Warrant. Each whole Warrant is exercisable to purchase one regular Common Share at $0.25 on or before November 30, 2011 (the "Offering").

The Company is pleased to announce the 2nd Tranche Closing of 1,653,000 Units and 699,999 of Flow Through Units of the Offering for aggregate proceeds of $303,360 and has paid agent's fees of $23,309 and issued 180,240 Agent's warrants. Combined proceeds from the 1st and 2nd closings are $833,145.

The securities issued in the Offering will be subject to a hold period of four months plus one day from closing. Further closing(s) to occur in the coming weeks and is subject to applicable regulatory approvals and completion of definitive documentation.

Proceeds from the Offering will be used for exploration and development of the Company's Oil and Gas assets, and working capital. The Company has defined considerable drilling targets in the Pembina, Cardium fields which it will exploit in its 2011 drilling program.

Mineral Results

RockBridge has completed its fall soil sampling program within the 100% ownership in 9 claims covering approx 4,680 acres of quartz claims in the White Gold District of the central Yukon. The claims are in the vicinity of the previously announced discovery (May 27, 2009) by Underworld Resources (UW.V) that stated significant results returning grades of 3.94 g/t Au over 59.9 metres and 3.59 g/t Au over 98.3 metres. Equity Exploration Consultants Ltd. (Equity) completed the sampling program and has found "there are several significant highs of Au (gold) and Mo (Molybdenum), and the entire escarpment shows minor anomalous levels of Au, As (Arsenic), Sb (Antimony) and Mo unevenly distributed over an area of 3 km x 2km.". Equity concludes that these anomalies are worthy of further exploration.

    Area(km)   Maximum Values   Number of samples >98th percentile
Anomaly       Au(ppb)   As(ppm)   Sb(ppm)   Mo(ppm)   Au   As   Sb   Mo
    3 x 2   26   66   4   3   3   1   1   3

RockBridge has completed its fall drilling program on the Newfoundland Cross Hills property. Prospecting programs earlier this year encountered Copper of up to 1.95%, and Total Rare Earth Oxides of up to 1.11% from outcrop samples. Historic assays have returned values up to 2.2% Zr (Zirconium), 0.33% Y (Yttrium), 0.26% Nb (Niobium), 0.17% Ce (Cerium), 0.08% Th (Thorium) and 0.03% Sn (Tin). The fall program consisted of 4 diamond drill holes totalling 387m in the zone prospective for copper, and 2 diamond drill holes totalling 196m in the zone prospective for Rare Earths. The copper zone did not intersect any significant mineralization at depth, while the Rare Earth showings that were drilled showed anomalous values Yttrium plus Total Rare Earth Oxides.

RockBridge President, Adrian Van de Mosselaer, stated, "The Cross Hills Rare Earth property remains highly prospective and favourable geologic environment which has returned some very interesting historic, prospecting and drill results. We look forward to seeing this more than 20,000 acre property more fully explored in the future. Our current focus is on the expansion of our Oil and Gas assets and the commencement of horizontal drilling on RockBridge's Cardium property which will be generating significant value growth for our shareholders as this property is exploited."

About RockBridge

RockBridge has a diversified and broad resource base including varying interests in 19 oil and gas wells and properties in Alberta and B.C. including the Pembina Cardium properties. RockBridge has a 35% to 50% interest in 4.5 sections of the Pembina field located about 50 miles southwest of Edmonton slated for the first horizontal well drilling in the first quarter of 2011, and 1 operating oil and gas well in the Bantry area about 60 miles northwest of Medicine Hat. Avatar Energy Ltd. of Calgary owns the balance of the interests in the Pembina and Bantry properties and is the operator. The operator has in total, identified 15 low risk horizontal drilling locations on the properties for development over several years. In addition, RockBridge has a 1.0% interest in the expanding Woodrush project together with 54 Newfoundland mineral claims prospective for rare earth elements and copper, 8 B.C. mineral claims and 9 Yukon mineral claims prospective for gold.

This news release has been reviewed and approved by Dean Fraser, P. Geo, a "Qualified Person" under National Instrument 43-101.

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Adrian Van de Mosselaer, President and CEO

Disclosure: Except for statements of historical fact, this news release contains certain "forward- looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements such as the estimates of reserves, the references to RockBridge's exploration program and drilling program and capital expenditures relating to, and timing of, such programs are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond RockBridge's control, and no assurance can be given that the programs will be completed on time, on budget or at all. In addition, there are numerous uncertainties inherent in estimating reserves, including many factors beyond RockBridge's control, and no assurance can be given that the indicated level of reserves or the recovery thereof will be realized. RockBridge undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in RockBridge's filings with Canadian securities regulators, which filings are available at

The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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