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HORNBY BAY EXPLORATION LIMITED
June 30, 2004 - Symbol: HBE (TSXV) HORNBY BAY ANNOUNCES FLOW-THROUGH PRIVATE PLACEMENT Hornby Bay Exploration is pleased to announce effective June 25, 2004 a private placement of 2,300,000 flow-through common shares at a price of 40 cents per common share for aggregate gross proceeds of $920,000. McFarlane Goldon Inc. was retained as agent in connection with the private placement and will be paid a fee of 7% of the gross proceeds of the offering. HBE plans to use the proceeds of this financing to fund part of its 2004 exploration program in Nunavut. Closing of the private placement is subject to regulatory approval.Hornby Bay Exploration Limited is a uranium exploration company based in Toronto with active uranium exploration programs focused on its 211 mineral claims covering 209,000 hectares (516,000 acres) of the Hornby Bay Basin in the Coronation Gulf area of Nunavut.
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