Private Placement Completed

NEW SHOSHONI VENTURES LTD.

609-475 HOWE STREET VANCOUVER, B.C.

V6C 2B3

TEL: (604) 682-1643 FAX: (604) 682-1666 [email protected]

TSX VENTURE EXCHANGE SYMBOL: NSV Frankfurt: NWV

February 24, 2011 News Release

Private Placement Completed

Further to News Releases dated January 26, 2011 and February 9, 2011, the Company announces that a private placement for gross proceeds of $1,320,500 consisting of 26,410,000 Units priced at $0.05 has now closed.

Each Unit consists of one share plus one warrant exercisable into one share at $0.10 per share until February 15, 2012.

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.