Conway Resources Announces $550,000 Private Placement

Conway Resources Inc. ("Conway" or the "Company") (TSX VENTURE:CWY) is pleased
to announce that it is negotiating a private placement of common and
flow-through common shares for a maximum of $550,000 (the "Private Placement").


The private placement of common shares consists of a maximum of 4,000,000 units
for proceeds of $200,000. Each unit consists of one common share of Conway at a
price of $0.05 per share and one share purchase warrant. Each warrant will
entitle its holder to subscribe for one additional common share of the Company
at a price of $0.10 for a 12-month period following the closing date of the
Private Placement.


The private placement of flow-through common shares consists of a maximum of
5,000,000 units for proceeds of $350,000. Each unit consists of one common share
of Conway at a price of $0.07 per share and one share purchase warrant. Each
warrant will entitle its holder to subscribe for one additional common share of
the Company at a price of $0.10 for a 12-month period following the closing date
of the Private Placement.


The Private Placement will be the object of a finder's fee for an amount
corresponding to 10% of the total Private Placement. The net proceeds from this
Private Placement will be used for working capital purposes. The shares issued
and the underlying shares to be issued pursuant to the exercise of the warrants
under the Private Placement are subject to a restricted period on resale of four
months and one day.


Forward-Looking Statements

This press release contains certain forward-looking statements that might
involve uncertainty, time frames, and/or known and unknown risks beyond the
Company's control. The Company's actual results, performance and achievements
may differ materially from the results, performance and achievements implied by
such forward-looking statements. Factors that could cause actual results to
differ from those implied by forward-looking statements include, in particular,
changes in the market gold price, the value of the Canadian dollar or the grade
of the ore mined and unanticipated difficulties in mining activities that could
have an impact on operating revenues and costs, as well as uncertainty regarding
government regulations.