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ROCKWELL VENTURES INC. 
  (the "Company")

CODE OF ETHICS

|1. | Introduction and Purpose                                                                                                                                                                                                                                  
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|   | This Code of Ethics sets out the ethical
        and behavioural standards expected of the  Company's directors, officers,
        employees and contractors.                                                                                             
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|   | The purpose of the Code is to underpin
        and support the Company's vision and values that govern our individual
        and collective behaviour. The vision and values set out below are 
        an integral part of the Company's Code of Ethics.

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|2.. | The Company's Corporate Vision                                                                                 
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|    | The Company's vision is to become a successful
      and innovative mining and mineral exploration corporation.
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|    | To achieve this vision we include the following
      values in all our activities:                            

| | • | responsibly explore for and develop mineral resources;                                                 
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| | • | be respectful of the environment;                                                                      
| | • | be an industry leader and participate in industry organizations devoted
      toimproving the industry;
| | • | be a strong and honest competitor;                                                                     
| | • | be a responsible corporate citizen and contribute to the community;                                    
| | • | deal fairly with our customers, suppliers and joint venture participants;                              
| | • | provide a safe and rewarding work environment; and                                                     
| | • | deliver value to shareholders.                                                                         

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|3. | Integrity and Objectivity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
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|   | We have an obligation to
        be straightforward, honest and sincere in our approach to our work and
        to avoid improper personal benefits as a result of our position.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
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|   | We have an obligation to ensure that our individual interests do not
          interfere, or appear to interfere, with the Company's interests. We
          will be impartial, intellectually and morally honest and minimize actual
          and perceived conflicts of interest. We will be fair and not allow prejudice
          or bias to override our objectivity.
        We will not have any undisclosed and unapproved business relationships,
          including with joint venture participants, suppliers, customers or competitors,
          that might impair, or appear to impair, the independence of any judgement
          that we may make on behalf of the Company.
        We will not pay or accept any bribe, gratuity or other
          inducements in the course of our business dealings on behalf of the
          Company.

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|4. | Fair Dealing, Due Care                                                                                                                                                                                                                                                                                                                                            
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|   |                                                                                                                                                                                                                                                                                                                                                                   
|   | We will deal honestly and fairly in all
        our dealings with the Company's shareholders, joint venture participants,
        customers, suppliers, professional advisors, competitors and other stakeholders.                                                                                                                                                
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|   | We will maintain a high standard of competence,
        only undertaking work that we can expect to complete with professional
        competence. We will complete our obligations with due care and in a timely
        manner. We will carry out our work in accordance with the highest technical
        and professional standards appropriate to that work.
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|   | We will use the utmost skill and care
        in our recruitment and employment practices, and treat all colleagues
        with respect and dignity.                                                                                                                                                                                                             

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|5. | Use of Company Assets and Property                                                                                                                                                                                                                         
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|   |                                                                                                                                                                                                                                                            
|   | We will use our best endeavours
        to protect the Company's assets and property in our control for the legitimate
        business purposes of the Company, and will not use that property for any
        other purpose, including for personal gain.

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|6. | Use of Company Information                                                                                                                                                                                                                                                                                                                                                                                                                               
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | We will use the Company's
        corporate information gained during our relationship with the Company
        only in the best interests of the Company and not for personal gain. We
        will keep the Company's corporate information confidential, at all times.
        We will trade our shares on the Company in strict compliance with all
        applicable laws and where required, will properly and timely report such
        trading.
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|   | We will ensure that the
        Company provides full, fair, accurate, timely and understandable disclosure
        in all reports and documents publicly disclosed, so that the public is
        properly informed and not misled by statements or omissions.                                                                                                                                                                                          

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|7. | Compliance with all Laws, Regulations and
      Rules                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | We will at all times act
        honestly and in good faith, and comply with all applicable laws, including
        legislation, regulations, local by-laws and Rules (including the TSX Listing
        Rules) and codes of practice in the countries in which the Company operates
        or where it has registered issuer status. We will ensure our exploration
        and development practices not only comply with all applicable laws and
        regulations but adhere to "best in class" standards.

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|8. | Professional Behaviour, Compliance with Corporate
      Policies                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | We will conduct ourselves,
        both at work and outside of business hours, in a manner consistent with
        the good reputation of the Company and refrain from any conduct that might
        bring discredit to the Company. In particular, all staff will refrain
        from taking any action that improperly influences, coerces, manipulates,
        or misleads the firm engaged in the performance of the audit of the financial
        statements of the Company (and subsidiaries).
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | We will at all times behave
        and conduct ourselves in a manner that is consistent with the Company's
        vision and values set out in this Code, and will comply with all Corporate
        Policies.                                                                                                                                                                                                                                                                                        

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|9. | Compliance with Code of Ethics                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   | This Code forms part of
        every one of the Company's employee's conditions of employment and for
        all officers and directors as well. Failure to comply with the Code can
        result in disciplinary action including, where appropriate, dismissal.
        Compliance with this Code shall be taken into account on a regular basis
        when assessing individual performance. Failure of contractors to comply
        with this Code may result in termination of the contractor's contract
        for services with the Company.                                                                                                                                                                            
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|   | If any person becomes aware
        of a breach, or suspected breach, of this Code, they must report it immediately
        to their manager and company secretary for action. If this is inappropriate
        or uncomfortable for the individual, the breach, or suspected breach,
        should be reported to another member of the senior management team and
        the company secretary for action. No action will be taken against any
        individual reporting a breach, or suspected breach, by virtue of that
        report. Subject to any legal restriction, the name of the person disclosing
        the information pertaining to breach, or suspected breach, of this Code
        will be kept confidential.

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|10. | CEO and Senior Financial Officers                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|    | The Sarbanes
        Oxley Act 2002(USA) encourages all corporations subject to SEC regulations
        to maintain a code of ethics covering senior financial officers, including
        the CEO. The ethical and behavioural standards reflected in that Act are
        the basic tenets of ethical and professional conduct adopted by the Company
        in this Code for all its staff and contractors, and as such apply equally
        to the CEO and CFO, and any other senior finance staff.
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