NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

Ocean Park Ventures Corp. (the "Company") (TSX VENTURE:OCP.H) is pleased to
announce that it has closed the non-brokered private placement previously
announced on December 23, 2009, for gross proceeds of $7 million. Under the
terms of the private placement, the Company issued an aggregate of 14,000,000
subscription receipts, at a price of $0.50 per subscription receipt.


The proceeds of the financing are being held in escrow pending the approval of
the TSX Venture Exchange to the Company's Change of Business (COB) filing
relating to the Company's proposed participation in a Joint Venture with
International Tower Hill Mines Ltd. ("ITH") in respect of ITH's Chisna
copper-gold prospect, located in the Hartman mining district of South-central
Alaska.


Upon completion of the COB, each subscription receipt will automatically convert
into one unit of Ocean Park for no additional consideration. Each unit will
consist of one common share and one half of one warrant. Each whole warrant will
entitle the holder to purchase one additional common share at $0.75 exercisable
for two years, subject to acceleration under certain circumstances. If the COB
does not close by March 31, 2010, each subscriber will receive a refund of such
subscriber's aggregate subscription funds plus the pro rata entitlement to the
interest earned on such amount.


On conversion of the subscription receipts to units, the Company will pay
finder's fees of $86,362.50, and will issue 978,600 finder's warrants and
805,875 finder's units to finders who introduced subscribers for this offering
to the Company. Each finder's warrant will be exercisable at $0.75 for two
years, and each finder's unit will have the same terms as the private placement
units. All securities issued in the private placement will be subject to a hold
period expiring on May 29, 2010.


The net proceeds of the placement will be used for funding of the Company's
proposed Joint Venture with ITH, and for general working capital purposes.


The COB remains subject to the approval of the TSX Venture Exchange.

We seek Safe Harbor.

OCEAN PARK VENTURES CORP.

On behalf of the Board

Donald Gee, CEO/President/Director

This new release may contain forward-looking statements. These statements are
based on current expectations and assumptions that are subject to risks and
uncertainties. Actual results could differ materially because of factors
discussed in the management discussion and analysis section of our interim and
most recent annual financial statement or other reports and filings with the TSX
Venture Exchange and applicable Canadian securities regulations. We do not
assume any obligation to update any forward-looking statements.
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