Rupert Resources (TSX VENTURE:RUP) is pleased to announce it has arranged a
non-brokered private placement consisting of 2 million units at 35 cents per
unit for proceeds of $700,000. Each unit consists of one common share and
one-half of one common share purchase warrant. One full warrant will entitle the
holder to acquire one common share at 45 cents per share. The warrants will
expire two years from closing.


Rupert will pay a finder's fee of 6 per cent of cash raised payable either in
cash or in units. Completion of this financing is subject to the delivery of
definitive subscription agreements and TSX Venture Exchange acceptance. All of
the securities issued pursuant to this offering will have a hold period expiring
four months from the closing date


The funds will be used to continue the deep drilling program on the company's
Gold Centre property in the Red Lake District of Ontario as well as for general
working capital purposes.


D. N. Briggs, President and Director
Rupert Resources (TSX:RUP)
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