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October 10, 2008

Ringbolt Files Amended Quarterly Md&A's And Financial Statements For Fiscal 2008

Ringbolt Ventures Ltd., as a result of a review by the British Columbia Securities Commission, is issuing the following press release to clarify its disclosure.

The company has amended and refiled the following documents to correct various deficiencies and errors in the previously filed documents. The material changes relate to missing or incomplete disclosure of accounting related details as well as clarification of mineral property terms.

1. For the quarter ended Aug. 31, 2008, amended and restated management discussion and analysis;
2. For the quarter ended Nov. 30, 2007, amended and restated management discussion and analysis amended and restated financial statements;
3. For the quarter ended Feb. 29, 2008, amended and restated management discussion and analysis amended and restated financial statements.

Notably, the company's prior disclosure of mineral property terms for the Hornby basin property in the Northwest Territories did not include the extension of certain timelines and changes in the required option payments, exploration commitments and issuances of common shares of the company amounts otherwise due pursuant to the original option terms as amended on June 30, 2007.

In addition, the company's prior disclosure of mineral property descriptions had described the potash exploration permits and licences in the Paradox basin located in Bureau of Land Management lands within the state of Utah, as being owned rather than the correct status of all such permits and licences as being presently in the application stage. The company awaits the formal approval and granting of exploration permits for the various applied for permits.

On behalf of the Board of Directors

Derrick Strickland, Director

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