diff --git a/Makefile b/Makefile
index 96122707..19fbfee8 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,7 @@ ORG ?= integreatly
 NAMESPACE ?= gitea
 PROJECT=gitea-operator
 SHELL= /bin/bash
-TAG ?= 0.0.4
+TAG ?= 0.0.5
 PKG = github.com/integr8ly/gitea-operator
 COMPILE_OUTPUT = build/_output/bin/gitea-operator
 
diff --git a/deploy/operator.yaml b/deploy/operator.yaml
index 0f134f7d..34378c3a 100644
--- a/deploy/operator.yaml
+++ b/deploy/operator.yaml
@@ -15,7 +15,7 @@ spec:
       serviceAccountName: gitea-operator
       containers:
         - name: gitea-operator
-          image: quay.io/integreatly/gitea-operator:master
+          image: quay.io/integreatly/gitea-operator:v0.0.5
           ports:
           - containerPort: 60000
             name: metrics
diff --git a/version/version.go b/version/version.go
index 2a179e81..9dc41a9b 100644
--- a/version/version.go
+++ b/version/version.go
@@ -1,5 +1,5 @@
 package version
 
 var (
-	Version = "0.0.4"
+	Version = "0.0.5"
 )