NEWS RELEASE

Letter of Intent Signed

Vancouver, BC October 2, 2003: Resolve Ventures Inc. (the “Company”) wishes to announce that it has entered into a letter of intent with Ubex Capital Inc. and Menace Capital Corp. (collectively the “Vendors”), pursuant to which the Company will sign an option agreement with the Vendors for the acquisition of a hundred (100%) percent interest in and to four properties comprising approximately 25,610 acres in the Ungava region of Northern Quebec (the “Property”). The agreement provides that the Company can earn up to a 100% interest in the Property upon fulfillment of the following conditions:

a) a cash payment of $15,000 to the Vendors upon signing of the Letter of Intent;

b) a cash payment of $35,000 to the Vendors upon approval from the Exchange;

c) issuance of 500,000 common shares of the Company to Vendors.

Each of the properties is subject to a 1% net smelter return royalty on any mineral production from each of the properties. The Company has the option to purchase up to one-half of the 1% NSR for $1,000,000 for each property comprising the Property.

This letter of intent is subject to satisfactory due diligence and confirmation of title to the mining and mineral claims comprising the property, the execution of a formal acquisition agreement and receipt of approval from the Exchange.

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.