Energy River Corp. Acquires Hurricane Exploration Inc.

Business Editors

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 9, 2002

Energy River Corp.'s (OTC BB: ERVC) board of directors has approved a purchase agreement to acquire Hurricane Exploration Inc. of Houston.

Energy River Corp. will issue 500,000 shares of its common stock

Hurricane Exploration holds in excess of 10,000 acres of developmental and exploratory oil & gas properties in California and Texas including substantial wildcat prospect in Nevada. The controlling shareholder of Hurricane Exploration Inc. (through Hydrocarbon Investments Inc.), Donald J. Kelly, will join the board of Energy River Corp.

He will remain the president and chief executive officer of Hurricane.

Kelly recently stated, "Merging Hurricane Exploration with Energy River Corp. will provide a platform to rapidly build substantial oil & gas assets at a time when it is particularly favorable for domestic energy resource development.

"I believe that the current market conditions are extraordinarily favorable for acquisition and development of undervalued producing and selected exploration prospects."

Kelly, 53, B.A., J.D. of Houston, has been involved in the energy industry as both a practicing attorney and an independent oil and gas operator for more than 20 years. Kelly has extensive "hands-on" experience in assembling oil and gas plays from prospect generation and land assembly through drilling, completion, and production phase.

His primary focus has been in the Gulf Coast and California regions of the United States; however, he has represented clients in the negotiation and acquisition of hydrocarbon concessions and production sharing agreements with foreign governments.

Kelly is a member of the State Bar of Texas. He is also an original appointee and 10-year member of the President's Council and honorary advisory group to the president of the University of Miami. He also serves on the executive committee of the University of Miami Alumni Association, his alma mater, and is completing a three-year term as one of four national vice presidents of that organization.

Energy River Corp. is in the business of developing, acquiring, and investing in emerging growth alternate energy companies, technologies, and projects.

Nonetheless, the company believes the uncertainty of current and future global energy markets provides significant opportunities for the accumulation and management of traditional energy resources that can provide cash flow and strong future value in uncertain economic climates.

In addition to Kelly joining the board, Terry W. Neild, the previous chief executive officer and director of Energy River Corp., has agreed to resume the position. Edward Heisler, the current president, will resign his position from the board, but will stay on as vice president, operations.

J. Stewart Borie has accepted the position of vice president, strategic investments for Energy River Corp.

For further investment information, please call Energy River Corp. Financial Public Relations at 877/685-2300.

Special Note Regarding Forward-Looking Statements

Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.

Investors are cautioned that statements in this news release that are not strictly historical statements, including without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the company and its strategic partners, constitute forward-looking statements.

These forward-looking statements are not guarantees of the company's future performance and are subject to a number of risks and uncertainties that could cause the company's actual results in the future materially to differ from the forward-looking statements.