NEWS RELEASE

Private Placement Closed

Resolve Ventures Inc. ("RVN") is pleased to announce that the Company has closed its private placements of 3,500,000 units at a price of 10 cents per unit for gross proceeds of $350,000. Each unit consists of one common share and one non-transferrable share purchase warrant for the purchase of one further common share of the Company within two years at a price of 10 cents per share. The units are subject to a four-month hold period expiring January 4, 2004.

On Behalf of the Board of Directors

Resolve Ventures Inc.

Simon Tam

Director

Disclaimer:

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN.