Exact Energy Resources, Inc.

Exact Energy Resources, Inc.

January 18, 2008 11:03 ET

Exact Energy Resources, Inc.: Company Expands Resource Interests

CALGARY, ALBERTA--(Marketwire - Jan. 18, 2008) - On behalf of Exact Energy Resources, Inc. (the "Company") (PINK SHEETS:EXER) President Rod Burns, P. Eng., reports that in keeping with the Company's decision to expand its core areas of business within the resource sector, it has extended its business considerations to include drilling prospects and mineral deposit assets. Consideration was given to the broader scope of the energy sector, and in the Company's pursuit of the development of more energy efficient application of the catalytic cracking refining process that the company has committed to.

"Over the past few months we have been carefully examining a number of opportunities, both within our core area of business, as well as within the resource sector in general. We have identified what we believe to be a significant opportunity for the company" said Burns. "In addition to the ongoing efforts within the petroleum sector, and more particularly within the oil refinery industry, and our participation through the Low Profile Fluid Catalytic Cracking Technology, we want to take advantage of a tremendous opportunity for this company" he continued.

The company has just entered into an agreement to acquire a block of mineral leases in the state of Utah to acquire a deposit of uranium reserves. Coupled with that acquisition was the addition to the company's Board of Directors of Dr. Spenst Hansen. Dr. Hansen, BS, MS, PHD, P. Eng., has been active in the mining industry for 42 years. In that time he has gathered tremendous experience in all aspects of the industry. Mr. Hansen has managed a multi-million dollar uranium exploration program that successfully developed large uranium ore reserves in Colorado, Wyoming and Utah. Under his direction, the company operated two successful uranium mines. This division was eventually sold off to a major uranium producing company.

"Mr. Hansen brings a rare skill set to our company in that with his background he will be invaluable not only in putting together a significant land package for the company, but he also brings valuable experience in-house from grass roots exploration, drilling and all phases of exploration right up to mine production" remarked Burns. "With the addition of Dr. Hansen to our board of directors we gain entry to a wealth of information that has allowed us to select a significant Uranium resource property" said Burns. "He has been able to deliver to the company a block of mineral leases which hold considerable promise. Historic development has indicated that they are rich in uranium and hold significant reserves. We are very excited about our prospects in this area."

"We are adding a more detailed disclosure of the details of this tremendous opportunity on our web site over the next few days" remarked Burns. "This prospect brings enormous value to the Company".

While continuing to develop its energy interests within the field of energy production, Exact Energy is committed to the principle that carefully selected diversification leads to stronger fundamentals for the company which will be better able to add to long-term shareholder value.

Interested parties are invited to learn more about the Company by visiting the web site or contacting us.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Exact Energy Resources, Inc.
    Investor Relations
    Toll Free: 1-877-782-7583
    Website: www.exactenergy.us