Sino Pacific Development Ltd.

Sino Pacific Development Ltd.

October 12, 2005 18:03 ET

Sino Pacific Development Ltd.: Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2005) - Sino Pacific Development Ltd. (TSX VENTURE:SPV) -

Mr. Allen Rose reports:

Sino Pacific Development Ltd. would like to announce that the Non-Brokered Private Placement announced January 5, 2005, amended March 9, 2005 and accepted for filing by the TSX Venture Exchange on July 14, 2005 has closed on a fully-subscribed basis.

Of the $600,000 raised, approximately $130,000 was used to fund the Phase I exploration program on its Burtons Pond Property on the Baie Verte Peninsula in Newfoundland and approximately $240,000 was and will be used to complete the Phase II diamond-drilling program on Burtons Pond. The remainder will be used to pay liabilities incurred over the last 4 years and to fund a reserve for working capital requirements over the next 12 months.


T. Allen Rose, Director

This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements'. 'Forward-looking statements' are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. 'Forward-looking statements' in this action may be identified through the use of words such as 'expects', 'will', 'anticipates', 'estimates', 'believes', or statements indicating certain actions 'may, 'could', or 'might' occur.

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