Indusmin’s oil and gas investment in Armenia and Ukraine

Private Placement
15th July 2004

Indusmin Energy Corporation announces a private placement of up to
4,000,000 units at a price of $0.30 per unit, subject to acceptance by
the TSX Venture Exchange, for total proceeds of $1,200,000. Each unit
will consist of one common share and one non-transferable share purchase
warrant entitling the holder to purchase one additional common share for
a period of two years at a price of $0.30 per share if exercised in the
first year and $0.40 per share if exercised in the second year.

The proceeds of the private placement will be used for development on
the Company’s oil and gas properties in Armenia and the Ukraine and for
general working capital.

For further information please contact:

Carlos Munoz , President & CEO, [email protected]
Tel. No.: (604) 960 9930
Fax No.: (604) 608 4733

Symbol: IDMNF ( U.S. )
Symbol: IDM ( Can. )
Symbol: Wkn: 469065( Berlin )