Energem Resources Inc. completes U.S.$12 million private placement

    TSX: ENM

    VANCOUVER, March 12 /CNW/ - Energem Resources Inc (TSX:ENM) ("the
Company") is pleased to announce that is has fully completed the previously
announced private placement of units for gross proceeds of U.S.$12 million
(Cdn.$14.1 million). A total of 18,793,600 units at Cdn.$0.75 per unit were
sold under the private placement. Each unit consisted of one common share of
the Company and one warrant to purchase one common share at Cdn.$1.00 for a
two-year term expiring on March 9, 2009. The securities issued under the
private placement are subject to a hold period in Canada until July 10, 2007.
    The private placement was completed on a non-brokered basis. Proceeds
from the private placement will be used for the Company's working capital and
general corporate purposes.

    Energem Resources Inc. is a natural resources company listed on the
Toronto Stock Exchange with projects in the energy and mining sectors in a
number of African countries. Energem is committed to developing niche high
margin natural resource projects in Africa and is currently active in 13
countries. Ventures encompass diamond mining and mineral exploration, mid- and
up-stream oil and gas projects, energy and mining related manufacturing,
trading and trade finance businesses operating off a common logistics platform
and infrastructure. The company has offices and/or logistics and support
infrastructure in Johannesburg, London, Beijing and a number of African

    %SEDAR: 00002462E

For further information:

For further information: Rob Rainey in Johannesburg, at telephone +27
11-372-3300, Fax +27 11 454 1673, or email: info@energem.com; The F.I.R.M. in
Toronto, at telephone (905) 681-9199, Fax (905) 681-2711, email:
jjobin@focusedir.com; lchapman@focusedir.com; Refer our website:

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