Bridge Resources Corp.

Bridge Resources Corp.

January 04, 2011 09:25 ET

Bridge Resources Corp. Announces Board Restructuring

CALGARY, ALBERTA--(Marketwire - Jan. 4, 2011) - Bridge Resources Corp. (TSX VENTURE:BUK) ("Bridge") announces that Thomas J. Stewart and Kenneth J. Yurkowski have resigned their positions as Directors of the company.

Bridge has subsequently elected to restructure its Board of Directors in conjunction with the sale of its North Sea Gas Area assets and its future focus on Idaho activities. The restructuring will result in Bridge having a core of three independent directors and one executive director.

Mr. Stewart and Mr. Yurkowski will both continue in their executive management roles as Vice President and Manager Operations respectively. Mr. Stewart will also remain as Director of the subsidiaries of Bridge.

The Bridge Board of Directors will now comprise:

Nicholas J. Clayton – Chairman

Edward J. Davies – Chief Executive Officer

Charles V. Selby

George E. Watkins

Restructuring the Board of Directors will enhance Bridge's corporate governance and increase its effectiveness in pursuing the Idaho exploration and development program which it operates with a 50% interest.

Bridge will also be restructuring its external professional representation.

Statements in this press release may contain forward-looking information including expectations of the results from divestitures or strategic alternatives, commerciality of any discovery, future operations, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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