Armistice Resources Corp. corporate update



    Issued and Outstanding common shares: 46,603,398

    TORONTO, Aug. 23 /CNW/ - Armistice Resources Corp. (TSX: AZ) ("Armistice"
or the "Corporation") is pleased to report that all of the company's cash is
invested in Canadian Bankers Acceptance instruments rated at R1 - High (the
highest rating). The Corporation has no exposure to asset backed commercial
paper ("ABCP").
    Underground drilling continues on the McGarry project. The company
anticipates underground development leading to bulk sampling to begin in
September.

    Armistice is a Canadian exploration company that owns an advanced
exploration underground gold project in North-eastern Ontario located on the
prolific Larder Lake break. The McGarry project consists of 34 contiguous
patented mining claims and licences of occupation totaling 484 hectares which
adjoins the former producing Kerr Addison gold mine which produced in excess
of 11 million ounces of gold.

    ARMISTICE RE

SOURCES CORP. "Todd J. Morgan" Todd J. Morgan President, CEO and Chairman of the Board

For further information:

For further information: Todd J. Morgan, (705) 567-4567,
info@armistice.ca


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