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SEYMOUR EXPLORATION CORP.
8th floor, 700 West Georgia St.
Vancouver, British Columbia  V7Y 1H4
(the "Company")

NEWS RELEASE

April 12, 2005

TSX Trading Symbol: SEZ Telephone: (604) 688-5866
Email: 3mcc@telus.net Facsimile: (604) 488-0787
 

Seymour Exploration Corporation Completes Acquisition of Lynn Lake Nickel Mine, Restructures Senior Management and Arranges Private Placement

Sudbury, Ontario – April 12, 2005 – Seymour Exploration Corporation (TSX-V: SEZ) is pleased to announce the following: the completion of the Lynn Lake nickel mine purchase, changes to senior management, the arrangement of a non-brokered private placement and the commencement of engineering work on the Lynn Lake mine data.

Completion of Lynn Lake nickel mine purchase

Seymour has concluded its purchase of the Lynn Lake Nickel Mine and other properties as announced in the Company’s February 14 and March 31, 2005 press releases. Seymour, through its wholly owned subsidiary Lynn Lake Nickel Mining Company Limited (“LLNMC”), now owns 100% of the mine property, subject to a 2% net smelter royalty.

Seymour has agreed to terms under which Wallbridge Mining Company Limited will earn a 50% interest in LLNMC and in the Lynn Lake assets. Under these terms Wallbridge will fund the initial $350,000 in exploration expenditures on the Lynn Lake mine property.

Changes to senior management

The Company’s Board of Directors has approved changes to senior management positions of the Company. Mr. Richard Murphy has been appointed President and CEO. Mr. Murphy joined the board of Directors in June 2004 and has worked very closely with management since that time. Mr. Murphy is a professional geologist who has been active in mineral exploration for over eleven years, the last eight of which have been spent with Wallbridge Mining Company Limited, where he is Vice President Corporate Development. Conrad Swanson will remain Chairman of the Board of Directors of the Company.

Mr. Guy Mahaffy has been appointed CFO and has joined the board of directors. Mr. Mahaffy is a chartered accountant and CFA charterholder with over 11 years of financial management experience and is CFO at Wallbridge Mining Company Limited. Mr. Mahaffy replaces Terry Sigmund who has stepped down as CFO and Director to pursue other opportunities. The Board wishes to thank Mr. Sigmund for his efforts on behalf of Seymour and wishes him every success in his future endeavors.

As part of the restructuring the corporate offices have been moved to Sudbury Ontario.

Non-brokered Private Placement

Seymour has arranged a non-brokered private placement of $400,000. The private placement will consist of 600,000 flow-through common shares priced at $0.25 and 1,000,000 non flow-through common shares priced at $0.25 per share. Wallbridge will subscribe for all of the non flow through shares.

Commenting on Wallbridge’s participation in the project, Risto Laamanen Chairman and CEO of Wallbridge stated “Richard has done a great job of putting this project together. Wallbridge believes in the upside of the project and is committed to its success.”

The private placement is subject to regulatory approval. All stock issued under the placement will be subject to a four month hold period. No warrants, finder’s fees or commissions are payable on this transaction.

Engineering work underway

The Lynn Lake nickel mine records have been transferred to Wardrop Engineering offices in Sudbury and the engineering work on the extensive mine data has begun. The Company will work with Wardrop engineers to define target areas within the mine environment where new nickel orebodies can occur. These target areas will be identified in advance of a summer drill program. Receipt of a new mineral resource estimate based upon the mine records is expected from Wardrop by late summer.

Richard Murphy, P.Geo President and CEO of Seymour Exploration Corporation is the Qualified Person responsible for the technical content of this press release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Seymour Exploration Corporation
Richard Murphy, President and CEO
Tel: (705) 682-9297

Email: rmurphy@wallbridgemining.com

This document may contain forward-looking statements relating to Seymour Exploration Corporation’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Seymour’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Seymour disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

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