NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES

Challenger Deep Resources Corp. ("Challenger" or the "Company") (TSX
VENTURE:CDE) is pleased to announce a private placement of up to $800,000 (the
"Private Placement").


Pursuant to the Private Placement, which is subject to acceptance by the TSX
Venture Exchange, Challenger intends to issue, pursuant to applicable exemptions
from registration and prospectus requirements of Canadian and United States
securities laws, up to 2,666,667 Common Share Units (the "Units) at a price of
CAD $0.30 per Unit. Each Unit is comprised of one Common Share and one Common
Share Purchase Warrant ("Warrant"). Each Warrant entitles the holder to purchase
one additional Common Share of Challenger at an exercise price of CAD $0.40 for
a period of two years. The offering may be brokered through an agent,
non-brokered, or partially brokered and partially non-brokered. 


Challenger may pay a finder's fee in connection with the issue and sale of any
or all of the Units under this offering. The finder's fee shall consist of a
payment of no more than 7% of the gross proceeds of the offering in relation to
subscribers introduced by any particular finder. Challenger may also pay
finder's warrants ("Finder's Warrants") exercisable into common shares of
Challenger in connection with the issue and sale of any or all of the Units
under the offering. The Finder's Warrant's may be issued in an amount equal to
no more than 7% of the aggregate number of Units in relation to subscribers
introduced pursuant to the offering by any particular finder. The Finder's
Warrants will have the same terms as the Warrants as outlined above.


The gross proceeds from the Private Placement will be used for permitting of
Challenger's Tabang Coal Project in East Kalimantan, Indonesia, for the
investigation and acquisition of additional Indonesian coal exploration projects
and for general corporate purposes.


About Challenger

Challenger Deep Resources Corp. is an exploration company focused on the
Indonesian coal industry. Challenger's business plan is to acquire, explore and
to bring its viable coal projects into production. Challenger has an experienced
Indonesian exploration and mining team with offices in Calgary, Singapore and
Jakarta.


CAUTIONARY STATEMENT

No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. 


READER ADVISORY 

Statements in this press release may contain forward-looking information
including, statements regarding expected exploration activities and the
completion of financings. Any statements that are contained in this press
release that are not statements of historical fact may be deemed to be
forward-looking statements. The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be incorrect. Events
or circumstances may cause actual results to differ materially from those
predicted, as a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of Challenger. Factors that
could cause the actual results to differ materially from those in
forward-looking statements include, granting of exploration permits, surface
access and other licenses from Indonesian regulatory authorities, continued
exploration results, the establishment of commercial quantities of coal,
availability of new acquisitions on commercially acceptable terms, the continued
availability of capital and financing, and general economic, market or business
conditions in North America and in the Asia Pacific region. The reader is
cautioned not to place undue reliance on any forward-looking information. There
can be no assurance that the proposed private placement will be completed, that
exploration programs in Indonesia or other project acquisitions will be
completed or, if completed, will be successful. 


The forward-looking statements contained in this press release are made as of
the date of this press release, and Challenger does not undertake any obligation
to update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by securities law.