LeBoldus Capital Inc. announces sponsorship and updates financing and option
agreement terms

CALGARY, July 6 /CNW/ - LeBoldus Capital Inc. ("LeBoldus" or the "Corporation") (TSX VENTURE: LEB.P), is pleased to provide an update regarding its proposed qualifying transaction (the "Proposed Transaction") and financing. LeBoldus previously announced that it had entered into an option agreement ("Option Agreement") with Duran Ventures Inc. ("Duran"), whereby LeBoldus can earn a fifty percent (50%) beneficial interest in the Corongo Property in Peru (the "Corongo Property").

Sponsorship

LeBoldus entered into an agreement with Macquarie Private Wealth ("MPW") effective June 15, 2010, whereby MPW has agreed to act as Sponsor relating to the Proposed Transaction. Accordingly, Macquarie is in the process of conducting due diligence on LeBoldus and the Proposed Transaction to enable it to prepare a Sponsor Report in accordance with the policies of the TSX Venture Exchange.

Financing

LeBoldus has amended the terms of its previously announced non-brokered Private Placement of a minimum of 5 million units and a maximum of 7.5 million units of the Corporation ("Units") at a price of $0.20 per Unit, each Unit consisting of one Common Share and one warrant ("Warrant") to acquire an additional Common Share at a price of $0.40 per Common Share for a period of two years from the date of closing, subject to acceleration in the event the Corporation issues a press release ("Press Release") advising that the Corporation's Common Shares have traded above $0.50 for 10 consecutive trading days, in which case the Warrants shall expire, without further notice, on the 31st day following the issuance of the Press Release. The minimum has been lowered to 1.75 million Units for minimum aggregate gross proceeds of $350,000.

In connection with the Private Placement, finder's fees may be paid of up to 8% in cash and up to 8% in warrants, each warrant entitling the holder thereof to purchase one Common Share at $0.20 per share for a period of 12 months.

The Corporation intends to use the proceeds from the Private Placement to fund its exploration expenditure requirements under the Agreement and for general working capital purposes. All securities issues in connection with the Private Placement will be subject to applicable resale restrictions.

Option Agreement

LeBoldus and Duran have amended the Option Agreement effective June 22, 2010 to extend the deadline to close the Proposed Transaction to October 24, 2010 and to modify the payment schedule of the exploration expenditures requirements. In addition, the Option Agreement was amended such that LeBoldus will be the Operator of the project.

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to TSXV acceptance and, if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required sponsorship and shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Statements in this press release may contain forward-looking information, including expectations of the results of future exploration and the ability to find suitable targets, future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information, including the ability of LeBoldus to complete the Proposed Transaction, may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. There is also a risk that the TSXV does not approve the Proposed Transaction. The reader is cautioned not to place undue reliance on this forward-looking information.

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For further information: Evatt Merchant, President, Chief Executive Officer and Director, LeBoldus Capital Inc., Suite 400, 2710 - 17th Avenue S.E., Calgary, AB, T2A 0P6, Telephone: [phone], Facsimile: [phone], E-mail: [email protected]