Ross River Minerals Inc.

Ross River Minerals Inc.

El Pulpo, Sinaloa. Optioned its El Pulpo Copper-Gold project in Mexico from Almaden Minerals Ltd.. Ross River can earn a 50.1% interest in the project by spending US$2,000,000 and issuing 425,000 shares of Ross River to Almaden by April 30, 2008, including 150,000 shares to be issued upon exchange approval of the agreement. Ross River can acquire an additional 9.9% interest by spending a further US$1,000,000 by April 30, 2010. Ross River is committed to spend US$100,000 by April 30, 2004 and is responsible for all holding costs until it has earned an interest in the property. The property contains five claims that are held under option by Almaden and are subject to the terms of the agreement with Ross River. A 100% interest in these claims, subject to a 1% NSR, can be acquired by making payments of US $162,000 by February 2005. The 1% NSR can be purchased for US $500,000.

The El Pulpo project is located north-east of Mazatlan and covers an area of approximately 120 square kilometres. High grade porphyry related gold, silver and copper mineralization has been identified over a surface area in excess of 12 square kilometres. The properties host at least two copper-gold porphyry targets and three high grade gold vein targets. Ross River has informed Almaden of the following results from field work carried out by Ross River:

El Bagre Target: The El Bagre Target exhibits altered calc-alkaline intrusive quartz stockwork mineralisation hosting both oxide and sulphide copper mineralisation. Four widely spaced rock samples collected over an area of one square kilometre averaged 1.43 % copper, 0.13 g/t gold and 52.4 g/t silver.

La Cetolla Target: Three kilometres east of El Bagre is the La Cetolla porphyry target. In the early 1970's work by a major North American mining company focused on a grid of 1,100 metres by 230 metres which averaged 0.94% copper over this area. In 2002, Almaden sampled an area immediately to the south and up to a kilometre away from the grid and obtained assays ranging from 0.29% to 0.79% copper and up to 0.8 g/t gold.

Papaya Target: The Papaya Target is one kilometre north of the El Bagre Target. Of nine samples collected from a vein by Ross River, seven assayed 1 g/t gold. The values of these seven samples ranged from 1.00 g/t gold to 30.66 g/t gold, with an average of 8.47 g/t gold, 90.4 g/t silver and 5.11 % copper over a width of 1.5 to 2 metres.

La Trucha Target: The La Trucha target, two kilometres north of the Papaya target, is centred around two float samples collected separately by Almaden and Ross River, 50 metres apart, that assayed 18.0 g/t gold, 410.0 g/t silver and 24.42 g/t gold, 792.2 g/t silver respectively.

El Tiburon Target: The El Tiburon target is a further one kilometre north of the La Trucha target. A single grab sample taken by Almaden assayed 1.92 g/t gold and 63 g/t silver. Two grab samples taken within the same zone by Ross River assayed 0.78 g/t gold and 385.5 g/t silver and 11.80 g/t gold and 314.2 g/t silver over two metres.

Press Release 16Apr03