Exile Resources Inc.
TSX VENTURE : ERI

Exile Resources Inc.

November 07, 2005 09:00 ET

Exile Resources Commences Trading On The TSX Venture Exchange Under Symbol 'ERI'

TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2005) -

IPO Raised $2 Million

Exile Resources Inc. (TSX VENTURE:ERI) today announced a November 4th closing of the Initial Public Offering (IPO) of the Company by way of a common share offering consisting of 10 million shares at $0.20 per share. Shares of Exile commence trading today on tier 2 of the TSX Venture Exchange under the symbol ERI.

Gross proceeds of the offering were $2 million and will be used for oil and gas exploration and development activities on the Brazeau River Project, property acquisitions in Africa, and for general working capital purposes.

About Exile Resources Inc.

Exile Resources Inc. is an oil and gas exploration company with interests in the Brazeau River Project, located 160 km south west of Edmonton, Alberta. Exile has the right to earn a 52.5% working interest in Brazeau. The Company is also pursuing opportunities in Africa. There are 18,725,979 shares issued and outstanding post-IPO. Please visit our web site for further information: www.exileresources.com

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

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