Trinity Plumas Capital Corp.

Trinity Plumas Capital Corp.

March 21, 2005 09:23 ET

Trinity Announces Final Closing of C$15.6m Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TRINITY PLUMAS CAPITAL CORP.

TSX VENTURE SYMBOL: TPC

MARCH 21, 2005 - 09:23 ET

Trinity Announces Final Closing of C$15.6m Private
Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2005) - Trinity
Plumas Capital Corp. (TSX VENTURE:TPC) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Trinity Plumas Capital Corp. is pleased to announce that the brokered
private placement of 18,309,837 Units for total proceeds of C$15,563,361
has now closed. As previously announced, the first tranche of 3,000,000
Units closed on December 23, 2004. The second tranche of 2,161,766 Units
closed on January 10, 2005. The third tranche of 13,148,071 Units for
proceeds of C$11,185,860 has now closed effective March 16, 2005.

The shares issued in the third and final tranche have a 4 month hold
period expiring July 16, 2005. Each Unit was priced at C$0.85 per Unit
and consisted of one share and one-half warrant. Each whole warrant is
exercisable for 24 months from closing at a price of C$1.30 per share.

Robert E. Chamberlain. Jr., Chairman, CEO and CFO, commented "The
closing of this private placement enables the company to fully exploit
the opportunities presented in the Barnett Shale of Texas.
Oversubscription of the placing demonstrates that this potential is
recognized by specialist institutional investors, and we look forward to
continuing Trinity's high-impact development program."

The placement was brokered by Fox-Davies CAPITAL of London.

About Trinity

The Company's focus is on the efficient development of hydrocarbons in
North and Central America while maintaining high standards of
environmental responsibility. Trinity now has 26 producing natural gas
wells (19 vertical and 7 horizontal). Working interest partners involved
in the Company's various acreage holdings include publicly-listed Devon
Energy (NYSE: DVN) and Carrizo Oil & Gas (Nasdaq NM: CRZO), along with
other privately-held entities. Trinity Plumas Capital Corp is an oil &
gas exploration and development company.

The Company is in the process of changing its name to TrueStar Petroleum
Corporation, for which it is awaiting regulatory approval.

About Fox-Davies CAPITAL

Fox-Davies CAPITAL ("FDC") is a London-based investment banking boutique
specializing in the oil & gas and mining sectors. The firm specializes
in assisting Canadian and Australian natural resource companies to
access capital in the UK and European markets. FDC is a member of the
London Stock Exchange and is regulated by the UK Financial Services
Authority.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Trinity Plumas Capital Corp. - Houston Office
    Robert E. Chamberlain, Jr.
    (281) 335-5588
    (281) 335-7619 (FAX)
    rchamberlain@trinityplumas.com
    www.trinityplumas.com
    or
    Trinity Plumas Capital Corp. - Houston Office
    J. W. (Bill) Rhea, IV
    (281) 335-5588
    (281) 335-7619 (FAX)
    brhea@trinityplumas.com
    or
    Trinity Plumas Capital Corp.
    Canada Office
    (604) 669-6952
    (604) 669-6331 (FAX)
    or
    Fox-Davies CAPITAL
    Daniel Fox-Davies
    Managing Director
    daniel@fox-davies.com
    or
    Fox-Davies CAPITAL
    Whitefriars House
    London EC4Y 0BS (UK)
    44-20-7936-5200
    44-20-7936-5201 (FAX)
    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.