December 14, 2007 20:03 ET

Alberta Securities Commission Upholds Tyler Rights Plan

CALGARY, ALBERTA--(Marketwire - Dec. 14, 2007) - The Board of Directors of Tyler Resources Inc. ("Tyler" or the "Company") (TSX VENTURE:TYS) announced today that the Alberta Securities Commission (ASC) has dismissed the application of Mercator Minerals Ltd. to cease trade Tyler's Shareholder Rights Plan. As a result, Tyler's Rights Plan remains in place.

The ASC, in a news release, stated, "The ASC panel indicated that dismissing the application was in the interests of Tyler shareholders."

Tyler is continuing to actively discuss potential value-enhancing transactions with a number of third parties. Today's decision will enable Tyler to continue that process.

The decision followed a hearing at the ASC earlier today. The hearing was requested by Mercator, which has made a hostile takeover bid for Tyler and challenged the Tyler Rights Plan. As a result of the ASC decision, Mercator will not be able to take up any shares of Tyler under its offer, the current expiry date of which is December 17, 2007. Under the ASC's decision, Mercator may not apply again to the ASC to challenge the Rights Plan until after January 8, 2008.

Update on the Mercator Offer

The Tyler Board maintains its unanimous recommendation that shareholders should reject the Mercator Offer and not tender their shares. If shareholders have already tendered to the Mercator Offer, the Board recommends that shareholders withdraw them immediately. For assistance in doing so, shareholders are urged to contact Kingsdale Shareholder Services Inc. at toll free 1-866-639-3460.

About Tyler Resources Inc.

Tyler Resources Inc. is a well-funded Canadian junior exploration company focused on base and precious metals exploration in Mexico. Tyler's primary project is the Bahuerachi property, which hosts Mexico's fourth largest mineralized porphyry deposit. As part of its ongoing drill program, the Company has now drilled in excess of 52,000 meters of combined diamond and reverse circulation drilling since 2004, making it one of the most active Canadian junior exploration companies operating in Mexico. For more information, visit www.tylerresources.com.

Jean-Pierre Jutras, Director, President and Chief Executive Officer

Reader Advisory - Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates", will and similar expressions, are forward-looking information that represents management of Tyler's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Tyler. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Tyler's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Tyler's filings with the Canadian securities authorities. Accordingly, holders of Tyler shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Tyler disclaims any responsibility to update these forward-looking statements.

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

Contact Information

  • Corporate Contacts
    Tyler Resources Inc.
    Jean Pierre Jutras
    (403) 269-6753 or Toll Free: 1-888-237-7898
    Media Contacts
    Longview Communications
    Alan Bayless
    (604) 694-6035
    Longview Communications
    David Ryan
    (604) 694-6031
    Shareholder Information
    Kingsdale Shareholder Services Inc.
    Toll Free: 1-866-639-3460