Campbell Resources Inc (CBLRF)

[NYBob]

Campbell Resources is granted an extension
and announces the closing of equity financings -
Monday May 29, 2:14 pm ET
MONTREAL, May 29 /CNW Telbec/ -

Campbell Resources Inc. -
(TSX: CCH, OTC Bulletin Board: CBLRF) -
announces that it has been granted an extension to August 31, 2006
of the initial order granted June 30th under the Companies'
Creditors Arrangement Act (the "CCAA").

The Company is currently preparing a plan of arrangement
to be presented to its creditors in early June.
A vote on this plan by the creditors and its ratification
by the Superior Court is expected by the end of June.

The Company also announces the closing of the equity financing
with Sprott Securities Inc.

("Sprott") for a total amount of $10,000,000, as per the terms
and conditions stated in the April 24th and May 10th, 2006
press releases.

The net proceeds of the financing will be held in escrow until
such conditions are met.

Pursuant to the financing, the Company issued 125,000,000
special warrants (each a "Special Warrant") to various
purchasers thereof.

Each Special Warrant is exercisable into one common share
and one-half of one common share purchase warrant
(each a "Warrant") for no additional consideration,
provided that certain conditions are met.

Each Warrant will be exercisable into one common share
upon payment of $0.15 per share for a period of two years.

Such conditions include that the Company obtain all
required approvals, including Court approval, for its plan
pursuant to the CCAA and obtain a receipt for a final
prospectus before September 27, 2006. If such conditions
are not met, the purchase price paid by the purchasers
for the Special Warrants will be returned to such purchasers.

The Company is continuing the process which will allow it
to proceed with a rights offering to its shareholders for
gross proceeds of up to $5 million.

At the closing of the Rights Offering, Campbell and
Nuinsco Resources Limited ("Nuinsco") will proceed with
the closing of the Nuinsco private placement for an amount
of $2,500,000.

Terms and conditions of the Rights Offering and the Nuinsco
private placement are the same as for the Sprott private
placement.

Moreover, Campbell announces that, as of May 1st, Nuinsco
began providing management services for Campbell's development
and mining activities, as per the Operating Management
Agreement.

Campbell is a mining company focusing mainly in the Chibougamau
region of Quebec, holding interests in gold and gold-copper exploration and mining properties.

Certain information contained in this release contains "Forward-Looking

Statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 and is subject to certain risks and uncertainties, including those
"Risk Factors" set forth in the Campbell's current Annual Report on Form 20-F
for the year ended December 31, 2005. Such factors include, but are not
limited to: differences between estimated and actual mineral reserves and
resources; changes to exploration, development and mining plans due to prudent
reaction of management to ongoing exploration results, engineering and
financial concerns; and fluctuations in the gold price which affect the
profitability and mineral reserves and resources of Campbell. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Campbell undertakes no obligation to
release publicly any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect unanticipated
events or developments.

For further information

Campbell Resources Inc.:

André Fortier, President and Chief Executive Officer,
[phone],
Fax: [phone],
[e-mail]

http://www.ressourcescampbell.com/en/index.html

Source: CAMPBELL RESOURCES INC.

Still no pictures Joe Mann Mine -
no cameras Canada? -
no pictures on the most valuable CCH assets? -
http://www.ressourcescampbell.com/en/pp-presse_photos.html


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