Mr. Kevin Bottomley reports

KING'S BAY CLOSES $217,500 PRIVATE PLACEMENT

King's Bay Resources Corp. has completed a non-brokered private placement of 2,175,000 units at a price of 10 cents per unit for gross proceeds of $217,500.

Each unit consists of one common share of the company and one non-transferable common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share of the company at a price of 15 cents per warrant share for a period of two years from the closing of the financing.

In connection with the financing, the company paid cash finder's fees of $16,000 to a certain finder.

All securities issued in connection with the financing are subject to a statutory hold period expiring four months and one day after the closing of the financing.