ROCA - MAX Molybdenum Mine Production Financing


VANCOUVER, April 28 /CNW/ - Roca Mines Inc. (TSX-V: ROK) ("Roca" or "the Company") announces that it has arranged a $2.5 million private placement with strategic investor SeAH Holdings Corp. ("SeAH"), a company based in Seoul, South Korea listed on the Korean stock exchange. Proceeds from the financing will be used to recommence production at the MAX molybdenum mine and for general working capital.

The financing is to comprise 10 million units of the Company at a price of $0.25 per unit, each unit consisting of one common share and one half of a share purchase warrant. Each full warrant will be exercisable into one common share of the Company for twelve months following closing at a price of $0.30.  Closing is subject to satisfactory due diligence and Republic of Korea and Canadian regulatory approval. No finder's fees will be payable in connection with this placement.

SeAH is a public company listed on the Korean stock exchange. SeAH is the holding company of SeAH Group, established in 2001 by separating SeAH Steel's investment sector and is based in Seoul, South Korea. SeAH has 14 domestic and 22 overseas subsidiaries/operations with business areas in special steel producing, pipe manufacturing, IT and energy. SeAH Besteel Corp., the largest subsidiary of SeAH, is known as the #1 special steel maker in Korea and the company mainly produces automotive parts and shipbuilding parts for globally renowned automakers and shipbuilders.

Having carried out much rehabilitation, planning and engineering it remains management's goal to restart production at the MAX molybdenum mine and to continue to advance its permitted 1,000-tonne-per-day expansion plans. Molybdenum oxide currently trades at approximately US$17.00 per pound.


"David Skerlec"

David J. Skerlec - Chief Financial Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Roca Mines Inc.

For further information:

Tel: 604-684-2900
Fax: 604-684-2902

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Roca Mines Inc.

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