Waseco Resources Inc. - News Release

Private Placement

Waseco Resources Inc. "WRI" TSX-V
August 15, 2005 News Release

August 15, 2005 - Toronto , Canada. WASECO RESOURCES INC. (WRI-V) today announced a non-brokered private placement of up to 833,334 common share units of the Company at a price of $0.12 per unit for gross proceeds of $100,000. Each unit consists of one common share and one half of one common share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company at a price of $0.20 per share for a period of 12 months following the closing date. The private placement is subject to regulatory approval. Gross proceeds will be used for work on the Company’s uranium properties in the Quebec Labrador Trough and working capital. The shares will be subject to a four-month hold period. Registered selling agents will be entitled to receive a finder’s fee of 7% of the number of units subscribed for. Insiders are anticipated to subscribe for greater than 25% of the private placement.

Waseco Resources Inc. currently has 27,061,321 shares issued and outstanding. For more information about Waseco, please visit the Company’s web site at www.wasecoresources.com.


Richard Williams

Contact: Richard William
     tel: (416) 364-3123
     e-mail: Blackwell@tcn.net
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