Agreement Executed With Rubirosa Limited for Acquisition of Oregon Resources Corporation Inc.

HAMILTON, Bermuda -- Resource Finance & Investment Limited ("RFI")(OTCBB:RFIVF) symbol RFIVF.OB is pleased to report that it has executed an agreement with Rubirosa Limited for the sale of 100% of Oregon Resources Corporation Inc., (ORC) as a part of its strategy to create separate listed and funded entities for its operating subsidiaries.

The principal objectives of the agreement are;

To enable Rubirosa to acquire an advanced mineral resource project sufficient to meet the requirements of its investors and the Australian Stock Exchange. (ASX)

To enable RFI to retain a significant ongoing interest in the funded entity without further dilution to its shareholders equity and participate in the upside expected to be realized from the ongoing development of the ORC assets.

To raise the required minimum equity funding to continue to advance the project development and put in place project finance for full-scale production.

The principle terms of the agreement provide obligations on both parties, with Rubirosa having to meet the minimum funding threshold of A$8 million through the issuance of new common shares at a determined value and obtain an ASX listing. It is planned to raise approximately $A12-$13.6 million through a pre-IPO and IPO process. RFI will receive consideration in the form of fully paid common shares of Rubirosa Ltd with a deemed value of $A20 million. Thirty percent of the consideration will be classified as performance shares and will be restricted and not be able to be converted to common shares unless ORC meets a minimum profit after tax for the calendar year end December 31, 2008. Assuming the maximum level of funding it is expected that RFI will retain an equity position in excess of 50% of Rubirosa Ltd. The agreement is subject to other conditions relating to regulatory approvals and due diligence and contemplates a completion by June 30th 2006. It also contemplates that Rubirosa Limited will change its name to Industrial Minerals Corporation Ltd post the acquisition of ORC and prior to listing on the ASX.

ORC is developing a multi suite industrial mineral resource in Southern Oregon in the United States. The Australian equity markets and analysts are quite familiar with mineral sands development and projects of a similar nature to ORC's. The ASX is the home exchange for large mineral sands and industrial mineral companies such as Iluka Resources, Bemax, Rio Tinto and BHP Billiton together with numerous smaller exploration and production companies. This was a significant factor in the choice of jurisdiction for the process.

Rubirosa Ltd is an unlisted publicly held entity with its headquarters in Perth, Australia. It was established to invest in unique resource projects and is managed by the principals and senior executives of Capital Investment Partners Ltd , an Australian based Investment bank. Resource Finance and Investment Ltd is involved in the development of industrial minerals and exploration for gold and base metals in North America. Operations are directed through two wholly owned subsidiaries and a majority owned entity.

Legal Notice Regarding Forward Looking Statement

This press release contains "forward looking statements" including forward looking statements as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Statements in this press release which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements regarding the Corporation's anticipation that the Mineral Claims will prove to be economically viable on a going forward basis, and the Company's anticipation that it can successfully raise the capital necessary to acquire and exploit the Mineral Claims, with or without an equity offering. It is important to note that the Corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the Company's public filings with the Securities and Exchange Commission.