Goldbard Capital Corporation - Corporate update - Expiration of letter of intent with Arch Energy Inc.

    TORONTO, June 2 /CNW/ - Goldbard Capital Corporation ("Goldbard")
(GDB.P:TSX-V), a capital pool company listed on the TSX Venture Exchange (the
"Exchange"), announces a corporate update.
    Goldbard advises that the previously announced letter of intent (the
"Agreement") dated April 7, 2008 entered into in respect of the proposed arm's
length merger (the "Qualifying Transaction") with Arch Energy Inc. ("Arch"), a
Calgary-based, privately held oil and gas exploration company, has expired.
Goldbard has not renewed the Agreement and is no longer pursuing the
Qualifying Translation with Arch. Subject to Exchange review, Goldbard
anticipates that its shares will recommence trading on Thursday June 5th.

    The Exchange has not approved or disapproved the contents of this news
release. Further information concerning Goldbard can be found in the
prospectus of Goldbard dated October 25, 2007 available on SEDAR at

For further information:

For further information: Jesse Kaplan, Vice President & Secretary,
Telephone: (646) 218-1400, Fax: (646) 218-1401, Email:

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