Santoy Announces Blizzard Uranium Deposit Title Dispute Resolved

Santoy Resources Ltd. (TSX VENTURE:SAN) is pleased to announce the resolution of the title dispute which has delayed the implementation of a technical program to evaluate the amenability of developing the Blizzard Uranium deposit in the Greenwood Mining Division of south-central British Columbia. The Company reports that it has entered into an agreement with each of Mr. Anthony Beruschi, representing his companies and trustees, ("Beruschi") and an independent prospector, Adam Travis ("Travis") that upon completion, will facilitate the sale and transfer all of their respective interests in the "Blizzard Claims" to Boss Gold International Corp. ("Boss"), a public company currently listed on the NEX board of the TSX Venture Exchange. This consolidation of property interests, including a large surrounding block of claims, will permit Boss to proceed with the exploration and development of the Blizzard deposit, thereby relieving Santoy of the financing dilution and the Company's management of the considerable demands of a development scale project. The information is summarized below:

The Blizzard Uranium Deposit

The Blizzard Uranium deposit is a "basal-type", hydrogenic paleochannel deposit. A total of 21,184 metres of drilling in 478 reverse circulation and diamond drill holes have been completed on the deposit. Kilborn Engineering issued an Engineering Feasibility Study in August 1979 based on the extensive drilling and engineering studies on behalf of a joint venture comprised of Norcen Energy Resources, Lacana Mining Corporation, Campbell Chibougamau Mines, E & B Explorations and Ontario Hydro.

The drilling information was used to estimate an historic resource reported by Norcen, of 2,200,000 tonnes grading 0.214 percent U308, using a cut-off grade of 0.025% U308 and including 15% mining dilution (for an estimated 10.4 million pounds of U308). As indicated in the technical report (the "Technical Report") prepared by Dr. Peter A. Christopher, PhD, P.Eng, ("Christopher") a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), dated August 31, 2005 and filed on SEDAR, Kilborn's 1979 feasibility study provided historic reserve estimates that were converted by Christopher to an indicated and inferred resource to reflect current usage and conform to the more stringent reporting requirements of NI 43-101 as follows:

Blizzard Deposit Historic Indicated and Inferred Resources (i)for
Blizzard Deposit after Kilborn (1979)

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"Contained Kg
(%U3O8)"
Category Tonnes Grade %U3O8 (Kilborn/1979)
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INDICATED(ii) 1,914,973 0.247(iii) 4,728,428

INFERRED(ii) 4,685 0.162(iii) 7,595

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(i) Reported as Reserves but rules dictate classification as
resources
(ii) Indicated and Inferred Reserves were converted to Indicated
and Inferred Resources
(iii) Rounded to 3 places

The Blizzard Uranium deposit is interpreted to have been formed by the concentration of uranium minerals leached from nearby highly radioactive intrusive rocks and deposited in an old riverbed channel which was preserved from glacial erosion by a cover of younger volcanic rocks.

The deposit may be amenable to exploitation by widely used, low environmental impact, in situ solution recovery processes (ISL recovery) involving only minimal surface disturbance. The Kilborn feasibility study did not consider ISL as an extraction option and was based on the application of a conventional open pit mining method. Dr. Christopher had access to all historical data including drill logs and historical feasibility studies as prepared by Kilborn (1979). No access to core samples was possible due to destruction of these during reclamation of the exploration site. Dr. Christopher's report has been posted to SEDAR and Santoy's website.

The information in this section is derived from the Technical Report. The estimate cited above predates and therefore does not conform to the more stringent reporting requirements of NI 43-101 and thus should not be relied upon according to these standards; however, while the drill and assay data have not subsequently been verified, Santoy believes that the calculations are a favourable indication of the potential of the deposit and are therefore relevant to this news release. A geological evaluation of the project can be found in the Technical Report.

Relevant History

On June 13, 2005, Santoy announced that it had acquired its initial interest in the Blizzard Uranium deposit in conjunction with Sparton Resources Inc. ("Sparton") in an option agreement with Travis.

As stated in a news release August 9, 2005, this option agreement was amended and Santoy acquired all of Sparton's interest in the Blizzard Uranium deposit in return for issuing to Sparton 1 million common shares and 1 million share purchase warrants (exercisable at $0.75) of Santoy, $50,000 cash, the assumption of all of Sparton's obligations under the option agreement and a production royalty of $0.30 per pound of uranium. Sparton's senior management were closely involved with the discovery and development of the Blizzard Uranium deposit and, going forward, will continue to provide advisory services to Boss.

As indicated in a news release dated September 28, 2005, notice was filed with the Gold Commissioner, under the Mineral Title Act by a previous property owner, being Beruschi, claiming superior right, title and interest to the Blizzard Uranium deposit.

Settlement Agreement with Beruschi

Under the terms of the settlement, Santoy and Beruschi have agreed to the immediate resolution of title issues relating to the Blizzard Uranium deposit and to cooperate and work together to provide for the Blizzard Uranium deposit's acquisition by Boss, the financing of Boss and the permitting and development of the Blizzard Uranium deposit.

The primary asset of Boss will be the Blizzard Uranium deposit. As part of the settlement, Boss intends to change its name to "Blizzard Uranium Corp.". In addition, Santoy and Beruschi have agreed to vend a 100% interest in the Blizzard Uranium deposit and certain rights to the surrounding claims for Boss shares, cash and other considerations, resulting in Santoy receiving 26,250,000 common shares at a deemed issue price of $2.00 per common share or approximately 45% of Boss's issued shares. Additionally, Santoy will be entitled to earn a 5% working interest in the property to be earned through the funding of $1 million in exploration. Boss and Santoy both have the right to exchange Santoy's 5% working interest for a royalty of $1.00/lb of uranium. It is expected that Boss's interest in the Blizzard deposit may be subject to a maximum royalty of $3.00/lb of uranium.

Santoy and Beruschi will each appoint two directors to a new Boss Board of Directors and will vote their Boss common shares for each other's nominees for a period of 2 years. These four directors will then appoint up to two additional directors and a President.

As additional consideration for agreeing to the settlement, Santoy will receive 1,000,000 existing warrants of Boss from third parties exercisable at $0.27 per share until on or about November 9, 2006, 250,000 of such warrants Santoy proposes to transfer to Travis as outlined below under the heading "Settlement Agreement with Travis".

As additional consideration for his rights and an option on certain other properties, Beruschi will receive from Boss $1,200,000 on closing of the initial private placement in Boss; the right, subject to all applicable regulatory approvals, to a $1,000,000 private placement in Santoy at $0.40 per unit with each unit comprised of one common share of Santoy and one half of one common share purchase warrant with each whole warrant exercisable for one Santoy common share for 1 year from closing at an exercise price of $0.50 per share; and the right to dispose of up to 2,000,000 common shares of Boss commencing six months after the closing of the transactions contemplated by this settlement agreement until 2 years thereafter.

Beruschi has also agreed, for a period of 2 years from December 31, 2005, that he will cause the owners of certain additional uranium claims (located in the vicinity of the Blizzard Uranium deposit) to not sell their interest therein other than to Boss or with Boss's written consent. Boss has the exclusive right to earn a 51% interest in these uranium claims for two years.

The parties have agreed to use their reasonable commercial efforts to assist in the financing of Boss to be completed at or before the completion of the reverse takeover. The terms of any such proposed financing greater than $8 million, and any financing completed at a price of less than $1.60 per share, must be acceptable to Santoy and Beruschi.

Settlement Agreement with Travis

Santoy is also pleased to announce that it has entered into an agreement with Sparton and Travis which amends and supersedes the terms of the original option agreement between Santoy and Travis. Santoy and Travis have agreed to transfer their respective interests in and to the Blizzard Uranium deposit to Boss. Santoy has agreed to accelerate a $200,000 cash payment to Travis upon the completion of formal documentation and all necessary regulatory approvals for completion of the settlement and transfer of the claims to the Blizzard Uranium deposit to Boss and a further $200,000 cash payment prior to December 31, 2006. In addition, Santoy has agreed to deliver to Travis 500,000 common shares of Santoy (of which half have been delivered), 1,500,000 common shares of Sparton (of which 1 million have been delivered), and, from Santoy's own holdings, 750,000 common shares of Boss and 250,000 common share purchase warrants of Boss which will entitle Travis to purchase 250,000 common shares of Boss at a price of $0.27 until on or about November 9, 2006.

As additional consideration, Travis is to receive a gross over-riding royalty interest (the "Royalty Interest") of $0.50 per pound of uranium oxide produced from the Blizzard Uranium deposit. The Royalty Interest is payable to Travis during commercial production, provided that Boss is obligated to make advance royalty payments of $25,000 per annum commencing on the 5th anniversary of the settlement agreement until commencement of commercial production on the property comprising the Blizzard Uranium deposit. The total amount of all such advance royalty payments paid to Travis under the settlement agreement shall be deducted from royalties payable following commencement of commercial production. Santoy shall have the option to purchase 50% of the Travis Royalty Interest for a period of three years from the signing of a formal agreement with respect to the subject matter in the settlement agreement by the payment of $500,000 to Travis.

Santoy also agreed to use its reasonable commercial efforts to allow Travis to participate in any future flow-through financings of Santoy and Boss.

Santoy's management are extremely pleased with the resolution and advancement of this exciting project, and look forward to assisting Boss during the transition period. Ron Netolitzky, President of the Company, states that, "Santoy believes that Blizzard is one of the better pre-production stage uranium projects in Canada. This settlement allows us to unlock the value of Blizzard. We are eager to contribute to the process of realizing its potential." Mr. Beruschi stated, "The world is recognizing that the most important factor in our lives and the lives of our children is global warming. Nuclear energy is a clean and environmentally sound solution to the world's ever increasing demand for power. This settlement is an empowering first step towards our pulling together to do our part in satisfying this important need."

The settlements are subject to the parties obtaining all necessary shareholder and regulatory approvals.

The acquisition of the Blizzard Uranium deposit and additional properties by Boss and financing will likely constitute a reverse takeover of Boss in accordance with the policies of the TSX Venture Exchange.

Ron Nichols, P. Eng, Santoy's Vice-President of Exploration, is the qualified person, as defined by NI 43-101, who supervised the preparation of the information in this news release.

Santoy is advised by Boss that a Boss news release will be disseminated shortly once the terms of the proposed financing of Boss referred to above have been settled.

About Santoy Resources Ltd.

Santoy Resources Ltd. is a Canadian mining exploration company focused primarily on the energy sector. Emphasis is being placed on uranium projects in British Columbia, Saskatchewan, Manitoba, Central Mineral Belt of Labrador, the United States and Central America; and on coal and coal bed methane in Western Canada. A description of our properties, including maps and photographs, can be viewed on the Company's website at www.santoy.ca.

On Behalf of the Board of Directors

SANTOY RESOURCES LTD.

Ron Netolitzky, President

Cautionary Statement on Forward-Looking Information

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

Santoy Resources Ltd. (TSX VENTURE:SAN)