Bridge Resources Corp.
TSX VENTURE : BUK

Bridge Resources Corp.

February 01, 2007 14:08 ET

Bridge Resources Corp. Announces Awards on UK 24th Bid Round

CALGARY, ALBERTA--(CCNMatthews - Feb. 1, 2007) - Bridge Resources Corp. (TSX VENTURE:BUK) (the "Corporation" or "Bridge") is pleased to announce that it has been awarded five blocks by the UK Department of Trade and Industry ("DTI") in the 24th Bid Round. Bridge is very excited about the additional acreage that was awarded. The five new blocks comprise a total of 699 km2 which equates to approximately 172,624 acres.

Of particular interest is award of Bridge's two highest rated blocks 44/14 and 44/15. A third block, 47/20a, completes coverage on the Adeline Prospect, on trend with and complimentary to the prospect that Bridge is acquiring through the previously announced acquisition from Century Exploration (UK) Limited and Warwick Energy Limited.

With the current award and the previously owned blocks, Bridge now holds 100% interest in 11 blocks covering a total of 1,710 km2 or 422,000 acres. "Bridge is very pleased with the awards from the 24th Bid Round, they will allow the company to develop a very strong portfolio of prospects in the Southern UK North Sea gas fields" stated Edward Davies, CEO of Bridge.

Bridge will begin the evaluation of the new blocks along with the continued work which is being performed on the existing acreage. Initial drilling is expected to begin in July 2007.

With the award of more than three blocks, the conversion rights held by Edward Davies and Tom Stewart can now be converted into common stock of the Corporation.

About Bridge

The Corporation is active in the exploration for hydrocarbons in the Southern Gas Area of the UK North Sea where it holds 100% interest in eleven offshore exploration blocks located in water depths of 15 to 50m. In aggregate, these exploration blocks cover 422,000 square kilometres and Bridge is currently reprocessing existing 3D seismic surveys to finalize drilling locations.

The TSX Venture Exchange has in no way passed upon the merits of the Proposed Acquisition and has neither approved nor disapproved the contents of this press release.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

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