Woodruff Capital Management Announces Equity Financing

TORONTO, May 11 /CNW/ - Woodruff Capital Management Inc. (WOO - TSX-V) is
pleased to announce that on May 6, 2005, the Company completed a previously
announced non-brokered private placement of 933,332 Units at $0.75 per Unit to
raise $699,999. Each Unit will consist of one common share and one common
share purchase warrant. Each warrant will entitle the holder to purchase one
additional common share at a price of $1.10 per share for a period of two
years following the closing date of the private placement. The common shares
and common shares issued on exercise of the warrants will have a hold period
of four months from the closing date (i.e., September 7, 2005).
One of the placees is the SociDetDe de dDeveloppement de la Baie James,
which funds junior exploration companies involved within the James Bay
Territory.
After giving effect to the private placement, the Company has
10,082,928 shares issued and outstanding.

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

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

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