Nelson Resources Completes Equity Financing

On July 19, 2004, Nelson Resources Ltd. placed 112,144,128 new common shares with off-shore institutional investors for gross proceeds of approximately $157 million. The new common shares, together with Nelson’s existing common shares, were admitted to trading on AIM, a market of London Stock Exchange plc. The new common shares will also trade on the Toronto Stock Exchange four months after admission to AIM. Canaccord Capital (Europe) Ltd. acted as Nelson’s nominated adviser and joint broker and Hoare Govett Ltd. acted as Nelson’s financial adviser and joint broker.

Nelson was represented by the London office of White & Case, with a team that included Tim Jeveons and Paul Marchand; by Gowling Lafleur Henderson, with a team that included Paul Fornazzari and D’Arcy Doherty in Toronto and John Iredale, Q.C., in Calgary; and by Bermuda counsel Roderick Forrest of Wakefield Quin.

Canaccord and Hoare Govett were represented on the Canadian law aspects of the deal by McCarthy Tétrault, with a team that included Robert Brant, Richie Clark and Dwight Gomes in London and Patrick McCay in Toronto. Ashurst advised on English law aspects with a team that included Michael Robins, Nick Williamson and Andrew Smith.