Avery Cancels Equity Offering

Avery Resources Inc. (TSXV:ARY) has agreed with Jennings Capital Inc., PowerOne Capital Markets Limited and Nash Fitzwilliams Ltd. not to proceed at this time with the proposed private placement of up to 16 million units at a price of $0.50 per unit announced on March 29, 2005.

Avery Resources Inc. is an international junior oil and gas exploration company based in Calgary, Alberta that trades on the TSX Venture Exchange. The company is committed to growing shareholder value through international acquisitions and exploration. Avery's primary interest is in expanding exploration projects in oil and gas basins located in countries that provide significant exploration upside coupled with favorable fiscal and legal systems.

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