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September 30, 2008

Ringbolt Aquires Arizona Potash Project

Ringbolt Ventures Ltd., through its 90-per-cent-owned United States subsidiary, applied for and received 15 state exploration leases (Arizona leases) on lands located in the Holbrook basin, Apache county, Arizona. A recently released, Arizona Geological Survey open-file report (OFR 08-07, Rauzi, 2008) states that the Holbrook basin is potentially underlain by 3,500 square miles of salt beds, 600 square miles of which are also underlain by a potash bed (Rauzi, 2008). The Arizona leases cover 9,594 acres of land in what appears, from an initial review of the technical data, to be part of the thickest part of the basin, where the salt has in the past been measured at being 600 feet thick (Rauzi, 2008). It is estimated the potash bed may lie at the top of the salt sequence, at depths of 700 to 2,000 feet, shallow enough to permit possible underground mining rather than solution mining (Rauzi, 2008). The company does not imply there is a mineral resource in the Arizona leases, nor does the company imply there is any potentially commercial orebody in or on the Arizona leases. The information is presented here for a regional historical overview. The company has not done any work to verify the existence of potash/salt beds on the property. There is no certainty that potash will be identified on the property.

An Arizona Geological Survey open-file report (OFR 08-07) indicates the Holbrook basin has been explored in the past, with an excess of 240 oil and gas test wells; however, no oil or gas has been produced, except for minor amounts of helium (Rauzi, 2008). On the Arizona leases, eight drill wells have some reported drill data. Several other wells drilled on lands contiguous to the Arizona leases resulted in more detailed drill data. All data were collected in the 1960s and 1970s by the then-owner, and must be regarded as historical in nature because the information was gathered before 43-101 requirements came into effect.

A detailed, non-43-101-compliant feasibility study, done in 1966 for Arkla Exploration Co., on the ground directly to the north of the Arizona leases, indicates the salt beds have maximum thickness of 35 feet, with an average assay of 12.6 per cent K20. Arkla did not proceed to production, reportedly because the potash market softened in the late 1960s. Arkla later relinquished its permits. There is no assurance that these lands may ever be opened to permit application. Results from the adjacent property may not be representative of Ringbolt's property. The information contained in this news release has not been verified by the company.

Paradox basin

The company, through its 90-per-cent-owned U.S. subsidiary, applied for and received nine Utah state exploration leases (Utah leases) on lands located in the Paradox basin, in the state of Utah. These licences form part of the company's continuing plans to assemble a comprehensive and diversified portfolio of lands, to allow for maximum flexibility as it examines the various alternatives available to it for a possible multifaceted exploration program in the coming months.

Potash is a general term covering several types of potassium salts, of which the most important is potassium chloride, the mineral sylvite. Potash is a nutrient essential for plant growth, and is a cornerstone of modern agricultural fertilizers. Roughly 95 per cent of world potash production goes into fertilizer, while the other 5 per cent is used in commercial and industrial products -- everything from soap to television tubes. Currently, the United States imports more the half of the potash that it consumes. About 93 per cent of this is used for agricultural purposes.

The company presently has $2.9-million in cash and cash equivalents on hand, and is well positioned to continue its uranium and potash exploration plans in the coming months.

Mike Magrum, PEng, a qualified person under NI 43-101, has approved the technical content of this news release.

On behalf of the Board of Directors

Derrick Strickland, Director

We seek Safe Harbor.