Completion of Placing

23 Dec 2005 09:24

Adastra Minerals Inc23 December 2005 NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THEUNITED STATES Adastra Completes C$10.2 Million Private Placement Trading: TSX and AIM: AAA London, UK (December 23, 2005) Adastra Minerals Inc. ("Adastra") today announcedthat it has completed the private placement announced December 14, 2005 of6,000,000 Class "A" common shares at C$1.70 per share to raise C$10,200,000before expenses. "This funding concludes an important year for Adastra, in which we have madegreat strides in the progression of the Kolwezi Tailings Project," said TimRead, President and Chief Executive of Adastra. "The funds raised will be usedto finalise the Definitive Feasibility Study and the Environmental and SocialImpact Assessment, both expected for completion in March 2006, as well as forother general corporate purposes. The stage is now set for 2006, which promisesto be an exciting and active year as we enter the next stage in Kolwezi'sevolution." Canaccord Capital (Europe) Limited, MGI Securities Inc. and Mirabaud SecuritiesLimited acted as agents for the purposes of this private placement. Followingthe placement, Adastra now has 77,185,331 Class "A" common shares in issue. About Adastra Adastra is an international mining company listed on the Toronto Stock Exchangeand on AIM, in London, under the symbol "AAA". Adastra is currently developingseveral mineral assets in Central Africa, including the Kolwezi TailingsProject, and the possible rehabilitation of the Kipushi zinc mine in the DRC.Adastra's growth strategy emphasizes the creation of shareholder value throughthe development of world-class resources in stable or stabilizing politicalenvironments. Contact us: London Tim Read Cathy Malins / Annabel LeatherChief Executive Officer Parkgreen CommunicationsT: +44 (0)20 7355 3552 T: +44 (0)20 7493 3713F: +44 (0)20 7355 3554 F: +44 (0)20 7491 3936E: london@adastramin.com E: cathy.malins@parkgreenmedia.com North America Martti KangasThe Equicom GroupT: +1 416 815 0700 x. 243 +1 800 385 5451 (toll free)F: +1 416 815 0080E: mkangas@equicomgroup.com This information is provided by RNS The company news service from the London Stock Exchange