| ||March 24, 2005|
| ||March 24, 2005, (Vancouver, British Columbia) MBA Gold Corp. (TSX-V: MBA) announced today that it is proceeding, subject to regulatory approval, with a non-brokered private placement of up to 1,000,000 Units at a price of $0.25 per Unit to raise gross proceeds of $250,000. Each Unit will consist of one "flow through" common share and one non-flow through warrant to purchase an additional common share of MBA at a price of $0.30 for one year.|
The proceeds of the placement will be used to fund continuing oil and gas exploration expenditures in Eastern Canada, the next step of which will be a perforation and testing program on the Company's recently drilled MBA-Contact Gautreau F-59-2328 in the Stoney Creek region of New Brunswick. This program is expected to commence in early April.
MBA Energy Corporation is a wholly-owned subsidiary of MBA Gold Corp., a natural resource company whose strategy is to acquire a portfolio of properties that have indicated resources and require further exploration or development work. MBA will add value to these projects by providing capital, exploration expertise and where justified, development and production planning.
For more information, contact Mr. Cam White at 604-707-0373.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or the adequacy of this press release.
Visit our website at www.mbagold.com
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