Conway Resources Inc. Announces Completion Of Private Placement of $393,750

QUEBEC: Conway Resources Inc. (TSX VENTURE: CWY) (“the Company”) has completed a private financing with accredited investors. At closing, Conway has issued 21 Units A and 75 Units B, representing total subscription proceeds of $393,750.

Each Unit A, at $15,000 each, is composed of 62,500 flow-through shares of the Company at a price of $0.24 per share and each Unit B, at a price of $ 1,050 each, is composed of 7,000 common shares of the Company at a price of $0.24 each and of 7,000 share purchase warrants. Each warrant gives the holder the right to purchase one additional common share of the Company at a price of $0.20 per share for a period of 24 months from the closing date. A commission of 10% of the proceeds has been paid to Francois Simard, of Montreal, acting as intermediary for this placement.

The proceeds from flow-through shares, for an amount of $315,000, will be incurred by the Company in exploration work (CEE) on the Conway-Paquin Property before December 31, 2008.

Following this private placement, the Company will issue a total of 1,837,500 common shares and 525,000 share purchase warrants; those titles are subject to a resale restriction of 4 months from the closing date. After that financing, the Company will have 18,174,505 common shares issued and outstanding, of which 2,247,610 are escrowed.



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