| ||August 17, 2004|
MBA Announces Formation of MBA Energy Corp.
| ||MBA Gold Corp. (TSX Venture: Symbol MBA) is pleased to announce the formation of its wholly-owned subsidiary MBA Energy Corporation. MBA Energy will pursue exploration opportunities for natural gas and oil in North America, with a particular emphasis on Canada. At MBA's recent Annual General Meeting, shareholders overwhelmingly approved a management proposal that the Company diversify from its current focus on precious metals, into other sectors of the resource industry including oil & gas. The formation of MBA Energy is a significant first step.|
"The formation of MBA Energy is a very important and exciting development for a number of reasons", stated Cameron White, Chief Executive Officer of MBA. "Virtually all natural resource commodities tend to be cyclical and diversification helps to offset some of the risks associated with that cyclicality. Most importantly, we feel that exposure to oil and gas, as well as gold, will provide MBA with tremendous upside potential at a time when many experts are calling for $500 gold and $50 oil. We plan to move very rapidly to make MBA Energy a significant player."
MBA Energy Corp. is a wholly-owned subsidiary of MBA Gold Corp., a natural resource company whose strategy is to acquire a portfolio of resource properties that have indicated mineral 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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