NEWS RELEASE
Vancouver, BC July 7, 2003 - Mira Properties Ltd. announces that it will be proceeding with the 5 old for 1 new consolidation and name change to Camden Resources or a name acceptable to the Exchange as approved at the special Annual General Meeting of shareholders held February 28, 2003.
The Company has negotiated, subject to regulatory approval, a non-brokered private placement to a total of $350,000 consisting of up to 3,500,000 units at a price of 10 cents on a post-consolidation basis to qualified investors, with each unit consisting of one common share and one warrant. Each warrant will entitle the holder to purchase an additional common share at a price of 10 cents per share for a period of two years from the closing of the offering. The maximum allowable finder's fee shall be payable.
The funds will be used to pay off various creditors and provide working capital for the Company. The oil and gas properties will be written off at this time and a purchaser for these properties will be pursued. Concurrently, the Company will endeavor to locate a mining property of merit.
The Company also wishes to announce the appointment of Harvey Lawson as a director for the company. Mr. Lawson's experience with publicly traded companies involved in the mining sector will help the Company in its pursuit of suitable mining properties. Mr. Scott Fullerton has resigned as a director and secretary of the Company and the board thanked him for his contribution.
On Behalf of the Board
Craig Walker, President
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