Admiral Bay Closes on the 10% Working Interest Acquisition on its CBM Projects.TORONTO -- Company Signs Tap Agreement at Mound Valley Project Admiral Bay Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADB (Apple Desktop Bus) A low-speed serial bus for connecting keyboards, mice and other input devices on Apple IIgs and Macintosh computers. Starting with the iMac in 1998, the ADB was superseded by USB. ) is pleased to announce that, further to its news release of February 2, 2005, the Company has closed the acquisition of the 10% working interest in the Shiloh, Devon, Santa Rita, Swordfish swordfish, large food and game fish, Xiphias gladius, of the warmer Atlantic and Pacific waters, related to the sailfish. It is named for its sharp, broad, elongated upper jaw, which it uses to flail and pierce its prey of smaller fish, rising beneath a school , and Revloc projects in Kansas and Pennsylvania. The interest in the projects was acquired from Dorado Gas Resources and Running Foxes Petroleum, for $250,000 in cash and $750,000 in shares. Admiral Bay now holds a 100% Working Interest in all of its projects. Admiral Bay is also pleased to report that it has signed a tap facility agreement with Southern Star at its Mound Valley Project. The construction of the tap facility is scheduled to begin before the end of January 2006. Shiloh Project drilling update - The Company has completed the drilling of the first two wells of the current five well drilling program at the project. The Cress 2-23 and the Kuhn 14-35 wells have been drilled and had pipe run, in preparation for completion in the Riverton coal after the first of the year. Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging coal bed methane (CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ) production company focused on the development of projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin, in Pennsylvania. Admiral Bay is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol ADB. Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". The TSX Venture Exchange does not accept responsibility for the ad equacy of this release Admiral Bay Resources Inc. (TSX VENTURE:ADB) |
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