NEW SHOSHONI VENTURES LTD. Ralf Hillebrand President For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

An initial
ground-based reconnaissance program has been completed at the Arrowsmith Copper-Gold prospect. Selected
rock samples from the property have been submitted for assay, results of which
will be announced when available. The Arrowsmith property covers four distinct
historical showings which are under single ownership for the first time.
Previous operators were hindered by their inability to bring these showings
together under a single entity.

The Company has
entered into an Amending Agreement with ABI Resources Ltd. (“ABI”), with whom
the Company entered into a farm-in agreement on April 15, 2007. Under the terms
of the original agreement, the Company drilled a gas well (New Shoshoni Sunrise
16-24-79-17 W6M) in the Dawson Creek area of BC. At the time, the Company chose
not to flow-test the well due to problems encountered in well completion. Under
the Amending Agreement, ABI has agreed to provide all required capital and its
expertise to flow-test this well. In consideration , the Company has granted
ABI an increase in the gross overriding royalty from production, to 30% from
the previously agreed to 15% payable during the pay-back period. ABI retains
the right to convert to a 35% participating interest in the well as originally
agreed.

Management of the Company is of the opinion that
in order to attract potential new business opportunities, the Company may
require flexibility in its capital structure. As a result, the Company will
table an ordinary resolution proposing a consolidation of the issued and
outstanding common shares of the company before the shareholders at the annual
and special meeting of shareholders to be held on October 12, 2011.
Shareholders of record as of the close of business on Aug. 6, 2011, will be
entitled to vote on the resolutions put forth at this meeting.

The Company is proposing a share consolidation of
its outstanding share capital with a view to increasing its flexibility with
respect to potential business transactions
on the basis of: i) 1 new share for 2 old shares; ii) 1 new share for 3
old shares; iii) 1 new share for 4 old shares; iv) 1 new share for 5 old
shares, to be determined by the Board of Directors (“the Board”).

The Company currently has an unlimited number of
Common Shares authorized for issuance. As at record date for the meeting,
August 6, 2011, the Company had 100,535,047 common shares issued and
outstanding. On the basis of: i) 1 new share for 2 old shares, the post
consolidation number of shares outstanding will be approximately 50,267,524
common shares; ii) on the basis 1 new share for 3 old shares, the post
consolidation number of shares outstanding will be approximately 33,511,682
common shares; iii) on the basis of 1 new share for 4 old shares, the post
consolidation number of shares outstanding will be approximately 25,133.762
common shares; iv) on the basis of 1 new share for 5 old shares, the post
consolidation number of shares outstanding will be approximately 20,107,009
common shares.

The exact number of post-consolidated shares will
vary depending on the treatment of fractional shares which will occur when each
shareholder’s holdings in the Company are consolidated. Outstanding stock
options and warrants would be adjusted by the same ratio as any resulting share
consolidation.

If the ordinary resolution is approved, the consolidation
will be implemented, if at all, only upon a determination by the Board that share
consolidation is in the best interests of the Company and its shareholders at
that time. In connection with any determination to implement a consolidation,
the Company’s Board will set the timing for such a consolidation and select the
specific ratio from within the range set forth in the special resolution.

Shareholders will also be asked to approve an
ordinary resolution authorizing the name of the Company to be changed to
Shoshoni Gold Ltd., or such other name as may be suitable concurrent with or
following any consolidation. Subject to approval of the shareholder resolution,
the Board may authorize a change of name of the Company subject to regulatory
or TSX Venture Exchange requirements.

Don Weinert has
resigned as director of the Company. The Company wishes to thank Mr. Weinert
for his many years of service and association with the Company.

Glen Macdonald
P.Geol. a Qualified Person as defined in NI43-101 has approved the technical
content of this news release.

Additional
information on the Company is available on its website at http://www.newshoshoni.com
.

NEW SHOSHONI VENTURES LTD.

Ralf
Hillebrand

President

For
more information, please contact Mark Tommasi at 604-608-6314 or toll free at
1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.

An initial ground-based reconnaissance program is underway at the Arrowsmith Copper-Gold prospect. The Arrowsmith property covers four distinct historical showings which are under single ownership for the first time. Previous operators were hindered by their inability to bring these showings together under a single entity.

Glen Macdonald P.Geol. a Qualified Person as defined in NI43-101 has approved the technical content of this news release.

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

NEW SHOSHONI VENTURES LTD.
Ralf Hillebrand
President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

The initial drill target is a large coincident Magnetic and I.P. anomaly located to the north of the DS Pit zone, where the company made a new copper-gold discovery in its 2010 work program.

The Company has submitted a work permit application for the Arrowsmith Copper-Gold prospect and is awaiting an initial response to the application. The Arrowsmith property covers four distinct historical showings which are under single ownership for the first time. Previous operators were hindered by their inability to bring these showings together under a single entity.

The continued uncertainty over the inability to obtain work permits together with significant annual holding costs associated with the Drybones Bay Diamond property has led the Company to return the property to the vendor.

Glen Macdonald P.Geol. a Qualified Person as defined in NI43-101 has approved the technical content of this news release.

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

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand
President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

The share purchase warrants attached to the Units are subject to an acceleration clause, whereby the Company may, at its discretion call for the exercise of the warrants within 10 business days, if the closing price of the Company’s common shares on the TSX Venture Exchange is $0.40 or higher for 10 consecutive trading days, provided that the mandatory hold period has passed.

Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement are subject to a mandatory hold period and may not be traded before June 16, 2011.

The Company has paid cash finders’ fees equal to 10% of the gross proceeds raised through the Finders to Canaccord Genuity Corp., Haywood Securities Inc. and Jones Gable & Co. Ltd in the amounts of $81,500; $27,000 and $4,000 respectively.

Canaccord Genuity Corp., Haywood Securities Inc. and Jones Gable & Co. Ltd have also been issued warrants having the same attributes as the warrants attached to the Units in the amounts of 1,630,000; 540,000 and 80,000 respectively.

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

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand
President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Each Unit will consist of one share plus one warrant exercisable into one share at $0.10 per share for a period of 12 months.

The share purchase warrants attached to the Units are subject to an acceleration clause, whereby the Company may, at its discretion call for the exercise of the warrants within 10 business days, if the closing price of the Company’s common shares on the TSX Venture Exchange is $0.40 or higher for 10 consecutive trading days, provided that the mandatory hold period has passed.

Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement will be subject to a mandatory hold period expiring four months from the date of closing.

The Company will pay a cash finders’ fee on the sale of the Units to certain arm’s length finders (the “Finders”) equal to 10% of the gross proceeds raised through the Finders in the Offering, and will issue to the Finders such number of common share purchase warrants (the “Finder’s Warrants”) having the same attributes as the Warrants offered in the Offering, as is equal to 10% of the number of Units sold through the Finders in the Offering.
This private placement is subject to approval by the TSX Venture Exchange.

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

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand
President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement will be subject to a mandatory hold period expiring four months from the date of closing.

The Company will pay a cash finders’ fee on the sale of the Units to certain arm’s length finders (the “Finders”) equal to 10% of the gross proceeds raised through the Finders in the Offering, and will issue to the Finders such number of common share purchase warrants (the “Finder’s Warrants”) having the same attributes as the Warrants offered in the Offering, as is equal to 10% of the number of Units sold through the Finders in the Offering.
This private placement is subject to approval by the TSX Venture Exchange.
Additional information on New Shoshoni is available on Shoshoni’s website at http://www.newshoshoni.com .

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand

President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Each Flow Through Unit consists of one flow through share plus one warrant exercisable into one non flow through share at $0.15 per share for a period of 12 months and at $0.30 for an additional 12 months. The Company plans to spend the flow-through funds raised for exploration on its DS and Arrowsmith properties located on Vancouver Island in British Columbia.

Each Non Flow Through Unit consists of one non flow through share plus one warrant exercisable into one non flow through share at $0.15 per share for a period of 12 months and at $0.30 for an additional 12 months.

The share purchase warrants attached to the Units are subject to an acceleration clause, whereby the Company may, at its discretion call for the exercise of the warrants within 10 business days, if the closing price of the Company’s common shares on the TSX Venture Exchange is $0.40 or higher for 10 consecutive trading days, provided that the mandatory hold period has passed.

Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement are subject to a mandatory hold period expiring March 24, 2011. No Finders’ fees were paid in respect of this tranche of the private placement.

The Company has also received exchange approval for the acquisition of the Arrowsmith property located on Vancouver Island. The vendors have been issued 800,000 shares from treasury in respect of this acquisition. These shares are subject to a mandatory hold period expiring March 30, 2011.
Additional information on New Shoshoni is available on Shoshoni’s website at http://www.newshoshoni.com .

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand
President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

The company will, subject to receipt of TSX Venture Exchange approval, pay the vendors $10,000 and issue 800,000 shares from treasury for a 100% interest in the property subject to a 2% Net Smelter Royalty, of which the Company will have the option to purchase one-half (1%) for one million dollars at any time prior to commercial production. The Arrowsmith property covers an area of 1981 hectares (4895 acres) and includes four different historic mineral occurrences. These occurrences have not previously been under single ownership.

The Arrowsmith property is underlain by Triassic, Vancouver Group, Karmutsen Formation basic to intermediate volcanic and tuffaceous rocks with intermember (upper part of Karmutsen Formation) limestone units (Quatsino Formation). These rocks are unconformably overlain by Upper Cretaceous, Nanaimo Group, Benson Formation conglomerate. Intruding these rocks is Jurassic Granodiorite. Rock exposure on the property is limited with outcrops along road cuts, creek beds and hilltops.

The Arrowsmith property covers ground which brings four known historic properties under one ownership for the first time. This will now allow for a comprehensive exploration evaluation of the entire belt. Previously, exploration of the Arrowsmith property has occurred sporadically since copper and gold mineralization was first noted on the property in the 1890′s.

In addition to the problems associated with fractured ownership, the area in which the Arrowsmith property is located is within the historic E&N Railway Land Grant of 1875, which assigned ownership of minerals (except gold and silver which were reserved for the Crown) to the E&N Railway. Historically there was always difficulty encountered in making satisfactory arrangements with the land department of the E&N Railway to obtain title to mineral claims staked, or to even obtain permission for exploration or development of mineral deposits within the boundaries of the Land Grant. The E&N Land Grant problem no longer exists.

Mineralization discovered to date on the Arrowsmith property occurs in three distinct geological environments and the relationship between them is at this time uncertain.
The first targets explored were quartz-carbonate veins and breccias located in major shear zones, considered in the 1890′s to be the potential source of (uneconomic) placer gold present in local creeks. Silver-copper mineralization is also present in skarnified limestone units of the Karmutsen Group. Finally, copper (chalcopyrite) occurs disseminated with pyrrhotite and pyrite in altered intrusive rocks.

Two of the prospective known zones on the property were historically explored with  underground drifting, with four tunnels built at two different properties which now form part of the Arrowsmith property. Historical information recorded assays of 3.7% copper to over 7% copper across width of 0.6 to 1.3 meters in underground samples. The mineralized zones at these locations are contained within silicified shear zones near the contact of a porphyritic andesite with an altered granodiorite.

The main Arrowsmith mineralized zone consists of a magnetite-chalcopyrite-bornite bearing skarn zone traced for a length of over 700 meters by trenching and geophysical surveying. Work on this mineral occurrence, which included a small drill program in 1971, was conducted at various times between 1901 and 1990. This work was hindered again by claim ownership complications since the anomaly trended onto adjoining claims which now form part of the Arrowsmith property. One drill hole from the 1971 program, drilled through the skarn zone, returned 2.94% Copper over 6.1 meters.

Copper mineralization at a fourth, formerly independently-owned site consists of chalcopyrite, pyrite and pyrrhotite disseminated in altered granodiorite. Historic prospecting reports suggest that this may represent porphyry-style mineral deposition. No historical assay results are available for this location. The last available report of exploration from this site dates from the 1930′s. Porphyry style copper deposits occur elsewhere on Vancouver Island and are a permissive deposit model for the Arrowsmith claims.

The property has been largely logged since the 1960′s, resulting in a substantial network of logging roads available to provide access for a planned program of exploration. The area in general is accessed by all-weather gravel roads leading off from paved highways.

The Company cautions the reader that historical exploration results referred to herein predate the reporting standards set by NI43-101 and should not be considered reliable.

Mike Magrum P.Eng., a Qualified Person under NI43-101 has reviewed and approved the technical content of this news release.
The Company has negotiated a private placement to raise gross proceeds of $800,000. The private placement will consist of 6,250,000 Flow Through Units priced at $0.08 per unit and 5,000,000 Non Flow Through Units priced at $0.06.

Each Flow Through Unit will consist of one flow through share plus one warrant exercisable into one non flow through share at $0.15 per share for a period of 12 months and at $0.30 for an additional 12 months. The Company plans to spend the flow-through funds raised for exploration on its DS and Arrowsmith properties located on Vancouver Island in British Columbia.

Each Non Flow Through Unit will consist of one non flow through share plus one warrant exercisable into one non flow through share at $0.15 per share for a period of 12 months and at $0.30 for an additional 12 months.

The share purchase warrants attached to the Units are subject to an acceleration clause, whereby the Company may, at its discretion call for the exercise of the warrants within 10 business days, if the closing price of the Company’s common shares on the TSX Venture Exchange is $0.40 or higher for 10 consecutive trading days, provided that the mandatory hold period has passed.

Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement will be subject to a mandatory hold period expiring four months from the date of closing. Finders’ fees in accordance with TSX Venture Exchange policy will be payable in respect of a portion of this private placement. This private placement is subject to approval by the TSX Venture Exchange.

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

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand
President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Each Flow Through Unit consists of one flow through share plus one warrant exercisable into one flow through share at $0.20 per share until February 13, 2012. The Company plans to spend the flow-through funds raised for exploration of its DS copper/gold prospect located on Vancouver Island.
The share purchase warrants attached to both the Units are subject to an acceleration clause, whereby the Company may, at its discretion call for the exercise of the warrants within 10 business days, if the closing price of the Company’s common shares on the TSX Venture Exchange is $0.40 or higher for 10 consecutive trading days, provided that the mandatory hold period has passed.

Shares issued pursuant to this private placement and shares that may be issued as a result of the exercise of any warrants attached to this private placement will be subject to a mandatory hold period expiring December 13, 2010. No finders’ fees are payable in respect of this private placement.
Additional information on New Shoshoni is available on Shoshoni’s website at http://www.newshoshoni.com .

NEW SHOSHONI VENTURES LTD.

Ralf Hillebrand

President

For more information, please contact Mark Tommasi at 604-608-6314 or toll free at 1-877-454-0383.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.