Rockland Resources Ltd. announced the signing of an option agreement to earn a 100% interest in the "Pipestone North Property" ("PN Property"), located contiguous, and north and northwest, of the Company's 100% owned Cole Gold Mines Property, located in the western portion of the prolific Red Lake gold district of northwestern Ontario. Located approximately 32 kilometres (km) west of the town of Red Lake, the 1,015-hectare Pipestone North Property is contiguous on its eastern boundary with West Red Lake Gold Mines Ltd.'s ("WRLG") Rowan property (Mount Jamie portion). The acquisition of the PN Property increases the Company's holdings to 1,583 ha covering approximately 3.0 km strike length of the east-west trending Pipestone Bay St Paul Deformation Zone ("PBDZ").

On West Red Lake Gold Mines' properties to the east, three former gold mines - Rowan Mine, Mount Jamie Mine, and Red Summit Mine - are all situated along the PBDZ structural zone. The Pipestone North property is significantly underexplored compared to many properties and prospects in the Red Lake district, due to limited road access, and the distance from the principal Red Lake gold mines. The most significant recent exploration was completed by Redstar Gold Corp.

("Redstar"), from 2002-2004. Highlights on the Pipestone North property include: 991 Zone Occurrence - Located near the center of the PN property, exploration work by Redstar uncovered narrow pyrite, chalcopyrite bearing quartz veins within a brecciated felsic volcanic unit in contact with a folded ultra-mafic horizon. Redstar reported visible gold in several veins with grab samples yielding 22.27 grams per tonne (g/t) Au.

In 2004, Redstar drilled a single hole (WRL04-004) that was collared into an ultramafic unit north of the 991 Zone and drilled to the south and intersected a 200-metre-wide zone of strongly quartz and sericite altered felsic stratigraphy with pyrite and chalcopyrite stringer mineralization and anomalous gold values. The zone consists of numerous intersections of copper up to 0.23 percent over 5.5 metres with isolated gold values up to 228 parts per billion. This is the widest zone of anomalous copper mineralization observed on the property, and Redstar reported that previous work indicated a correlation between gold grades and copper mineralization.

Redstar also reported that the hole was designed to test stratigraphy and therefore did not test the north to south oriented gold bearing quartz veins previously sampled on surface. Sampling completed on the 991 Zone by GoldON confirmed high-grade gold mineralization with seven grab samples ranging in value from 0.006 g/t Au to 44.9 g/t Au. Additional drilling is planned to test these veins, as the 200-metre-wide zone confirms the presence of a large mineralized system.

Induced Polarization Targets - In March 2003, Redstar completed an IP (Induced Polarization) /resistivity survey over a portion of the Pipestone North Property center over the 991-occurrence area. A total of 6.1-line kilometres were completed and filed as an assessment report; "Two significant zones of high resistivity and anomalous chargeability that extend across the survey grid at an approximate bearing of 080° to 110°. These zones are dominantly high resistivity anomalies, which may be due to silicification or quartz veining.

The most significant anomaly extends from about 9550N on line 10500E to about 9450N beneath line 10900E? The zone is coincident with the 991 showing at line 10700E." To acquire a 100% interest in the Pipestone North property Rockland will pay a cumulative $60,010 cash, issue 1,000,000 shares and spend $1,000,000 over a 4 year period.