New Shoshoni Ventures Ltd.: Natural Gas Exploration Well Update

New Shoshoni Ventures Ltd. has received a Completion Report in respect of its Sunrise natural gas well, 16-25-79-17 W6M, located in Northeastern British Columbia. This well, which was spudded March 6, 2008, has been classified as a potential Paddy Gas Well.

Operations on the well have been suspended awaiting recorder information, which is expected to be available by mid August 2008. Two 5,000 ton propane fracs have been completed on the Paddy formation at the interval from 785-790 metres. Production testing undertaken after the first frac showed formation damage. Recorders were left in the hole from June 18, 2008 until July 17th 2008, at which time formation pressure had built up to 4373 kPA(g). A second 5,000 ton propane frac was pumped into the Paddy formation on July 20, 2008. A fresh water leak occurred from the shallower Dunvegan formation either from malfunction of the packer or the on/off connection resulting in fresh water entering and damaging the water sensitive Paddy formation.

Although mechanical problems were encountered while fracing, the Company was pleased to find that the pressures on this well are comparable to the pressures of the producing gas field located approximately 3 miles from the Company’s 16-25-79-17 W6M location, which indicates the two fields are connected. Once the recorder data is available, the company will be able to assess the water damage and consider which potential remedy may offer the most effective repair to the formation.

The Company holds an option to earn a 65% interest (100% before pay-back) in four sections in the Sunrise region by drilling one exploration well per section. The Company is planning to spud the second exploration well in the region in August. It is anticipated that the Dunvegan Formation will not be perforated, should this zone be encountered at the next well location, in order to prevent potential water damage to any deeper formations that may be encountered. Allowable well spacing in the region is a total of four wells per section.

The Company continues to evaluate other potential opportunities in the oil and gas sector.

Additional information on New Shoshoni is available on the Company’s website at http://www.newshoshoni.com.

Contacts: New Shoshoni Ventures Ltd. Mark Tommasi (604) 608-6314 or Toll Free: 1-877-454-0383 Email: info@newshoshoni.com

Website: http://www.newshoshoni.com

Source: New Shoshoni Ventures Ltd.