Sharpe Resources Corporation
OTC Bulletin Board : SHGPF
NEX BOARD : SHO

Sharpe Resources Corporation

January 07, 2008 09:00 ET

Sharpe Acquires 100 Percent Interest in Standard Energy Company

HEATHSVILLE, VIRGINIA--(Marketwire - Jan. 7, 2008) - SHARPE RESOUCES CORPORATION: (NEX BOARD:SHO.H)(OTCBB:SHGPF) The Sharpe has acquired a 100% interest in Standard Energy Company. The cash and stock transaction includes a cash payment of $250,000 and the issuance of 2 million shares of Sharpe common stock valued at $0.25 per share is subject to regulatory approvals. This transaction completes a previously announced (July 5, 2006) purchase agreement between the parties for a large coal property located in Preston County, West Virginia that was initially an investment in the property by Sharpe. Sharpe's website address is www.sharperesourcescorporation.com.

Standard Energy's primary asset includes 100% mineral ownership interest in the all of coal seams on more than 17,000 acres in Preston County, West Virginia. According to Qualified Person, Roland M. Larsen the mineral ownership includes approximately six (6) separate coal seams to include the Bakerstown, Upper Freeport, Lower Freeport, Upper Kattanning and Lower Kattanning followed by the deeper Clarion coal seam. Some of the Bakerstown and Upper Freeport coal has been mined previously on this property. Sharpe has completed an evaluation of the coal resources on the property with the help of an independent coal resource consulting firm.

This property offers an excellent opportunity for the development of a large coalbed methane (CBM) program encompassing the ability to drill and complete a several hundred well drilling program. Some of the coal resources are potentially mineable, as indicated some of these coal resources have been mined previously. In addition to the CBM program, this effort will include the evaluation and selection of areas on the property that have potential for the development of a coal gasification project. This effort would include evaluating the surface and underground coal gasification (UCG) coal mine development resource potential of this property. UCG eliminates the need to mine the coal as well as providing a combustible gas that can be used for industrial heating and power generation. The gas can be processed to remove carbon dioxide before it is sold, thereby providing a source of clean energy with minimal green house gas emissions.

The Company is evaluating the possibility leasing additional coal resources on property that adjoins Sharpe's current land position.

Sharpe Resources Corporation cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to market volatility, competition, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.

C.U.S.I.P # 82001L100

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this press release.

Contact Information