Mr. J.G. Stewart reports

SALMON RIVER AGREES TO SHARES FOR DEBT AND FINDER'S FEE

Salmon River Resources Ltd. has, subject to regulatory approval, agreed to settle indebtedness of $700,000 by the issuance of 1.4 million shares at a price of 50 cents per share. In addition, it has, subject to regulatory approval, agreed to a finder's fee of 1.6 million shares in connection with its acquisition of Treppo Grande Iron Pty. Ltd. and its two most recent financings.