Roca Mines Inc.

 Mon Aug 28, 2006
Roca closes $5 Million Private Placement

 Vancouver, British Columbia: Roca Mines Inc. (ROK: TSX-V) ("Roca" or the "Company") announces that the non-brokered common share private placement announced on August 10, 2006 has now closed. A total of 7,042,254 common shares were issued at a price of $0.71 per share raising gross proceeds of $5 million.

Cash fees totalling $242,727 were paid and 39,335 Agent warrants were issued to various arm's length finders and Agents in connection with this offering, each Agent warrant entitling the holder to purchase one common share of the Company until August 28, 2007 at a price of $0.90 per share. All securities issued in connection with this financing are subject to a hold period expiring on December 29, 2006.

Proceeds of this financing will be used to complete construction of the mine, mill and tailings facilities at Roca's Max Molybdenum Mine located near Trout Lake, British Columbia. Roca plans to be the first new primary molybdenum producer in Canada, with production to commence in late 2006. The fully-permitted PHASE I mine plan for MAX will focus on the deposit's high-grade zone containing 280,000 measured and indicated tonnes grading 1.95% MoS2 (refer to T.N. Macauley's 43-101 compliant technical report dated September 2004 available via SEDAR). Molybdenum currently trades in the US$28/lb range and is a key alloy in the manufacture of stainless and specialty steel, including pipelines and other energy-related steel infrastructure.

"David Skerlec"

David J. Skerlec -- Chief Financial Officer

For further information contact:
Doug Fosbrooke
Investor Relations
Tel: 604-684-2900
Fax: 604-684-2902
Email: [email protected]

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

You can view the Next News Releases item: Thu Oct 12, 2006, ROCA - MAX Molybdenum Mine Development Update

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