Coniagas Resources Limited - Private placement financing closes



    TORONTO, March 9 /CNW/ - Coniagas Resources Limited ("Coniagas" or the
"Company") (TSX-V: "CNY") announces that it has closed the previously
announced private placement of $150,000 through the sale of 1,000,000 units
("the Units") at $0.15 per Unit to two arms length parties. Each Unit is
comprised of one common share and one share purchase warrant. Each share
purchase warrant entitles the holder to purchase one common share of the
Company at an exercise price of $0.175 per share for two years from Closing.

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

    %SEDAR: 00004615E




For further information:

For further information: G. Warren Armstrong, President & CEO, (416)
597-0969, Email: coniagas@bellnet.ca

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CONIAGAS RESOURCES LTD.

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