RAM Gold & Exploration, Inc. Cancels LOI

Business Wire, July 1, 2008

LAS VEGAS -- RAM Gold & Exploration, Inc. (Pink Sheets: RMGX) announced today that it has cancelled its Letter of Intent with AMR Project Peru S.A.C. A majority of the Company's directors approved the cancellation of 53,500,000 restricted common shares that were issued as part of the agreement per the letter of intent to acquire certain leasehold mining interests held by AMR Project Peru S.A.C., and Romeo Distefano and Antonio Rotundo have resigned as officers and members of the board of directors. This decision will result in revisions to the company's website with the removal of all information related to AMR Project Peru S.A.C. and its principals.

Forward-Looking Statements

Certain statements contained in the above are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.