NEWS RELEASE

Resolve Closes Private Placement

October 13, 2004

FOR IMMEDIATE RELEASE

Trading Symbol: RVN – TSX Venture Exchange

Vancouver, British Columbia … Further to its press release dated July 21, 2004, Resolve Ventures Inc. (the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement through the issuance of 6,750,000 Units (4,970,000 non-flow through units and 1,780,000 flow-through units (the “Units”) at a price of $0.15 per non-flow through Unit and $0.20 per flow-through Unit, for gross proceeds of $1,101,500. Each Unit is comprised of one common share (“Share”) and one share purchase warrant, each warrant entitling the holder to purchase one additional common share (“Warrant Share”) of the Company for a period of two years from closing at a price of $0.15 per non-flow through Warrant Share and $0.20 per flow-through Warrant Share. The Shares and Warrant Shares are subject to a four- month hold period expiring at various dates from December 19, 2004 to February 5, 2005.

Finder’s fees were paid in connection with the private placement, comprised of an aggregate of 292,000 non-flow through warrants (exercisable at a price of $0.15 per share), an aggregate of 139,500 flow-through warrants (exercisable at a price of $0.20 per share) and $76,670 cash.

Proceeds from the private placement will be used for general working capital purposes and for the Company’s property work commitments.

ON BEHALF OF THE BOARD

“David Baker”, President

For further information, please call: (604) 685-3317

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.