VVC Exploration closes $4 million private placement with SPGP

Symbol: VVC - TSX VEN

TORONTO, May 12 /CNW Telbec/ - VVC Exploration Corporation ("VVC" or the
"Company") (Trading Symbol: VVC-TSX VEN) announces that, following acceptance
by the TSX Venture Exchange ("TSXV"), the non-brokered Private Placement from
SPGP for $4,001,600 closed in escrow on April 28, 2005 and the funds were
released from escrow on May 9, 2005. The private placement consisted of
4,880,000 shares at $0.82 per share and 4,880,000 warrants to purchase common
shares at $1.50 per share on or before April 28, 2007. The shares and warrants
are subject to a hold period expiring August 29, 2005. At closing SGPG had
ownership and control over about 16% of the issued and outstanding shares of
the Company. A finder's fee of $320,128 in cash and 97,600 shares of the
Company is payable to an arm length party in accordance with the policies of
the TSXV. The net proceeds of this private placement will be used for the
acquisition of the Xing Tong Joint Venture which was also accepted by the
TSXV.
Because the Company is currently finalizing more substantial financing
with institutions in Toronto, there will not be a second tranche to the
$998,750 non-brokered European private placement (at) $0.85 announced on
January 27.
There are currently 32,242,285 shares of the Company issued and
outstanding.

The TSXV does not accept responsibility for the adequacy or accuracy of
this news release.

Dated: May 12th, 2005
                                On behalf of the Board of Directors
                                (signed)
                                Michel J. Lafrance
                                Secretary-Treasurer