May 1st , 2006

PRESS RELEASE:  For Immediate Release.

PALM BEACH GARDENS, FL, May 01, 2006 (MARKET WIRE via COMTEX News Network) --

Nevtah Capital Management (OTC: NTAH) today announced that it has agreed to a share exchange between the Company and its 50-50 joint venture partner, Black Sands Energy.

Nevtah Capital Management, a public company and its joint venture partner, Black Sands Holding Co., a private company, have agreed to exchange approximately 35% of the total number of shares outstanding of each company. The partnership holds the rights to 13 Utah Tar/Oil Sands leases and the patented, proprietary rights in Utah to the closed-loop solvent oil-extracting system that is currently being utilized to recover oil on the partners' leases in Utah. The leases consist of 11,535 acres containing over 650,000,000 bbls of recoverable oil (Estimates by a 1966 Utah Geological Survey and recently confirmed by a registered petroleum geologist.) within the massive 32.0 billion barrel Utah Tar/Oil Sands Deposit.

The partners' pilot plant is currently undergoing a scale-up in Oklahoma, which will be completed during May and will resume production at an Asphalt Ridge lease in Utah. Mining permits for 4 leases in the Asphalt Ridge area have been applied for and will be issued subject to government approvals. The partners will file mining permit requests on their other leases during 2006. An engineering company is currently completing a costing and engineering program for a larger, commercial unit that will produce 100 bbls an hour for a daily output of 2000 bbls. (Annual production: 800,000 bbls). The scaled-up unit is scheduled for completion by July, 2006. The joint venture partners have the only operating pilot plant in the Utah Tar/Oil Sands Deposit.

Nevtah l was recently featured in articles by two leading resource magazines, OilBarrel and MineSite. These articles and a complete background on the joint venture partners' technology may be viewed on the Company's website:

Contact:
Paul Davey
Investor Services
(778) 389-0915
info@nevtahoilsands.com

Mr. Daniel P. Kesonen
President & CEO
Nevtah Capital Management Inc.
(561) 626-9901

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For more information, please contact:
Daniel P. Kesonen President & CEO
Nevtah Capital Management Corp.
 (561) 626-9901