Woodruff Capital Management Announces Completion of Private Placement Financing

TORONTO, Sept. 28 /CNW/ - Woodruff Capital Management Inc. (WOO - TSX-V)
is pleased to announce that on September 28, 2005, the Company completed its
previously announced private placement of 4,166,665 flow through common shares
at $0.60 per share to raise $2,499,999, and 1,666,665 Units at $0.60 per Unit
to raise $999,999. Each Unit consists of one common share and one common share
purchase warrant. Each common share purchase warrant entitles the holder to
purchase one additional common share at a price of $0.90 per share for a
period of two years following the closing date of the private placement.
As previously disclosed, when accepted by the company, the company
protected offers received from registered investment dealers. The company
protected offers from Dundee Securities Corporation, Haywood Securities Inc.
and BMO Nesbitt Burns. As partial consideration for their services, these
investment dealers were issued warrants to purchase an aggregate of     
264,583 common shares at a price of $0.90 per share, exercisable for a period
of one year.
The common shares and common share purchase warrants are subject to
resale restrictions pursuant to applicable securities laws requirements and
notably to a four-month hold period of four months plus one day from the
closing date (September 28, 2005).
The proceeds of the private placement will be used to fund the company`s
exploration program, and for general corporate purposes.

On Behalf of the Board of Directors
Mark Goodman
Chairman of the Board
Telephone: 416-924-9893

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