Roca Mines Inc. - News Releases - Short Form Offering of up to $2 million

	Mon May 31, 2004 Short Form Offering of up to $2 million
	News Release: #7-04 Vancouver, British Columbia, May 31, 2004: Roca Mines Inc. (the "Company") has arranged a financing by way of Short Form Offering Document of up to 10 million units ("Units") at a price of $0.20 per Unit for gross proceeds of up to $2.0 million. Each Unit will consist of one common share and one half of one share purchase warrant, with each full warrant giving the holder the right to purchase one additional share for one year following closing at a price of $0.25 per share. The offering is subject to a minimum subscription level of 8.75 million Units for gross proceeds of $1.75 million. Subject to meeting TSX Venture Exchange distribution requirements, the Company will apply to have the warrants listed for trading on the Exchange. Canaccord Capital Corporation ("Canaccord") will act as the Company's exclusive agent to offer the securities to residents of British Columbia, Alberta, Saskatchewan and certain offshore jurisdictions. The Company has agreed to pay Canaccord a cash commission of 8% of the gross proceeds raised and will issue warrants to purchase that number of Units as is equal to 10% of the number of Units sold at the offering price of $0.20. Canaccord will also receive an administration fee payable in cash and a corporate finance fee payable in cash and Units. All of the Units issued to Canaccord will have the same terms as those issued to subscribers. The financing is subject to approval by the TSX Venture Exchange. The proceeds of the offering will be used to finance exploration programs at the Company's Max and Foremore Projects and for general working capital. ROCA MINES INC. "David Skerlec" David J. Skerlec - Chief Financial Officer For further information contact Scott Broughton, John Mirko or David Skerlec at: Tel: 604-684-5900 (Broughton Ext. 114 / Mirko Ext. 110 / Skerlec Ext. 147) Email: [email protected] / [email protected] / [email protected] Web: www.rocamines.com The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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