Strongbow Exploration Inc.
TSX VENTURE : SBW

Strongbow Exploration Inc.

June 29, 2005 15:56 ET

Strongbow Exploration Inc.: First Quarter Results Filed and Regulatory Approval of SAM Agreement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 29, 2005) - Strongbow Exploration Inc. (the "Company") (TSX VENTURE:SBW) announces that it has filed interim, unaudited financial statements and Management's Discussion and Analysis (Form 51-102F1) for the Company (formerly Strongbow Resources Inc.) for the three months ended April 30, 2005 on Sedar at www.sedar.com.

The Company reports a net loss before income taxes of $195,213 for the three months ended April 30, 2005, as compared to a loss before income taxes of $223,120 for the same period last year. In accordance with Canadian GAAP, during the current period the Company has recorded a future income tax recovery of $712,000 in relation to EIC-146, "Flow-through shares". This results in net income after taxes of $516,787. The Company's working capital at April 30, 2005 was $2,743,924.

During the first quarter, the Company spent $533,823 (net of recoveries and write-offs) to explore its mineral property interests, primarily in Nunavut, as compared to exploration expenditures of $1,599,612 in the same period last year. A summary of the Company's expenditures on its mineral properties can be found in Note 5 to the consolidated (unaudited) interim financial statements filed on Sedar.

The Company has received regulatory approval for the issuance of 150,000 common shares to Almaden Minerals Ltd. pursuant to the SAM property option agreement announced June 23, 2005. These common shares are subject to a four-month hold period which expires October 29, 2005.

STRONGBOW EXPLORATION INC.

Kenneth A. Armstrong, President and CEO


The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.

Contact Information