Bishop Extends Toodoggone Agreement and Releases Subscription Proceeds from Escrow.

Business Editors

KELOWNA, British Columbia--(BUSINESS WIRE)--Nov. 19, 2003

Bishop Resources Inc., ("Bishop") listed on the TSX Venture Exchange Inc. under the trading symbol "BRI", and on the Berlin Stock Exchange under the trading symbol "BQ1", is pleased to announce it has completed an amending agreement with Guardsmen Resources Inc. ("Guardsmen") to extend the closing date of the Mineral Claim Purchase and Sale Agreement between Bishop and Guardsmen (for the purchase a 100% interest in two significant gold properties known as the Al/Bonanza and the Lawyers properties located in the Toodoggone district of North Central British Columbia) to March 31, 2004.

The Al/Bonanza property comprises approximately 23 sq km in 14 claims on which a total of 20,000 metres of diamond drilling was completed in 960 drill holes funded by six separate companies during the period 1979 to 2001. The Lawyers property comprises approximately 38 sq km in 23 claims on which a total of over 30,000 metres of diamond drilling was completed in over 1000 drill holes funded by seven separate companies during the period 1979 to 2001.

Terms of the agreement, first announced December 10, 2002, include a cash component totaling $775,000 of which $700,000 are advance royalty payments over a five year period, plus 19.9% of the outstanding shares of Bishop at the time of closing of the acquisition, estimated at approximately 10 million shares. Bishop is also required to make exploration expenditures on the properties totaling $4,000,000 over 5 years.

The amending agreement requires Bishop to appoint an independent third party geologist, approved by both Guardsmen and Bishop, to propose the details of any Work Programs undertaken prior to December 31, 2005. The suggested Work Program will then be subject to the approval of the board of directors of Bishop. Following approval, Guardsmen will be engaged, at its option, to carry out the approved Work Program subject to certain conditions to be determined in a "Program Management Agreement" to be completed as a condition of closing.

Bishop is also required to pay to Guardsmen (a) the balance of cash payments totalling $55,000 that were not previously due until closing; and (b) $60,000 on or before November 30, 2003 as partial reimbursement for exploration, reports and expenses associated with the work program contracted to Guardsmen on the Lawyers Property during August 2003, the results of which were announced in a news release dated November 6, 2003. Upon receipt of the advance, Guardsmen will deliver the final report and an accounting for the settlement of any balance, subject to approval by the board of directors of Bishop.

Bishop is also pleased to announce the release from escrow of subscription funds from its previously announced closing of a non-brokered private placement offering for gross proceeds of $749,600, which was completed through the issuance of a total of 7,496,000 units ("Units") of the Company at a purchase price of $0.10 per Unit. Each Unit consists of one common share and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to acquire one common share of Bishop at an exercise price of $0.14 per share for a period of two years from the date of issuance. In addition, Bishop has issued 610,950 shares at a price of $0.10 per share to two individuals as payment of finder's fees in connection with this private placement. All of the foregoing securities are subject to a four-month hold period, in accordance with applicable securities laws.

Proceeds from the placement will be used for general operating purposes and in connection with the acquisition of the Lawyers and Al/Bonanza ("Ranch") properties. As released on July 23, 2003, final acquisition of the Toodoggone properties by Bishop remains subject to TSX Venture Exchange approval.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release.