Strongbow Exploration Inc.

Strongbow Exploration Inc.

March 23, 2005 12:15 ET

Strongbow Exploration Inc.: Brokered Private Placement of $3,002,700


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: STRONGBOW EXPLORATION INC.

TSX VENTURE SYMBOL: SBW

MARCH 23, 2005 - 12:15 ET

Strongbow Exploration Inc.: Brokered Private Placement
of $3,002,700

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Strongbow
Exploration Inc. (TSX VENTURE:SBW) (the "Company") is pleased to
announce that it has appointed Haywood Securities Inc. and Canaccord
Capital Corporation (the "Agents") to co-lead a $3,002,700 brokered
private placement of units and flow-through shares of the Company. Up to
2,860,000 (non-flow-through) units at $0.35 per unit and up to 5,410,000
flow-through shares at $0.37 per share will be offered on a "best
efforts" basis. Each unit is comprised of one common share and one-half
of one common share purchase warrant, each whole warrant entitling the
holder to purchase one additional common share of the Company at a price
of $0.45 per share for a period of 12 months. The shares being issued
under the Flow-Through portion of this offering are to be qualified as
"flow-through" shares under the Income Tax Act (Canada).

The proceeds of the brokered private placement will be used for
exploration on the Company's Canadian mineral properties and for general
working capital.

The Company has agreed to pay the Agents a commission of 8% of the gross
proceeds from the Offering, payable in cash or Units at the Agents'
option, and share purchase warrants (the "Brokers' Warrants") totalling
10% of the number of units and flow-through shares sold. If the Agents
sell less than $300,000 in (non-flow-through) units then the Agents'
commission is payable in units. Each Broker's Warrant will be
exercisable into one common share at $0.35 per share for a period of 12
months after closing.

This brokered private placement is subject to acceptance by the TSX
Venture Exchange.

STRONGBOW EXPLORATION INC.

Kenneth A. Armstrong, President and CEO


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Strongbow Exploration Inc.
    Ken Armstrong
    President and CEO
    (604) 668-8355
    (604) 668-8366 (FAX)
    info@strongbowexploration.com
    www.strongbowexploration.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.