Mr. Kevin Bottomley reports

KING'S BAY ANNOUNCES $250,000 NON-BROKERED PRIVATE PLACEMENT

King's Bay Resources Corp. has arranged a non-brokered private placement for 2.5 million units of the company at a price of 10 cents per unit for gross proceeds of $250,000.

Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of 15 cents per share for a period of 24 months from closing.

All or a portion of the offering may be completed pursuant to Multilateral CSA Notice 45-318, Prospectus Exemption for Certain Distributions through an Investment Dealer, and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions.

In order for the company to be able to rely on the investment dealer exemption, each subscriber must purchase the shares as principal and obtain advice regarding the suitability of the investment from a person that is registered as an investment dealer in the jurisdiction in which the subscriber is resident. All the securities will be subject to a four-month hold period from the date of closing. There may be finder's fee payable in connection with this placement.

The private placement is subject to the approval of the TSX Venture Exchange. The company intends to use the proceeds of the offering as follows: $175,000 for the coming drilling program, $25,000 for legal, accounting and regulatory fees, and $50,000 for unallocated working capital.

There are no material facts or material changes that have not been generally disclosed by the company.

We seek Safe Harbor.