Exile Resources Inc.

Exile Resources Inc.

July 18, 2007 12:30 ET

Exile Resources Hires General Manager for Nigeria

TORONTO, ONTARIO--(Marketwire - July 18, 2007) - Exile Resources Inc. (TSX VENTURE:ERI) today announced that Seyi Ajibola has been hired as General Manager Exile Nigeria Ltd effective immediately. Based in Lagos, Nigeria, Mr. Ajibola will be responsible for day-to-day operations of the Company's assets under development, currently the Akepo Oilfield Project in Nigeria, to include managing the Company's relationships with the relevant authorities and local communities; working with its partner, Sogenal, on the development of the Akepo Project; and helping to identify other value adding projects in Nigeria and other countries in the Gulf of Guinea.

Mr. Ajibola has worked for oil and gas companies for the past 10 years, including 3 years with Devon Energy and 6 years with ConocoPhillips, both Fortune 500 companies. His management experience has encompassed financial, procurement, logistics and business development roles operating both marginal and deepwater assets in Nigeria. A native Nigerian, Mr. Ajibola has an exceptional reputation and respected contacts in both government and private sector offices.

Most recently, Mr. Ajibola completed his Master of Science degree on the Sloan Fellowship programme at the London Business School in 2007. He also holds a Bachelor of Science (Economics) degree from the University of Lagos (1995) and is a member of the Institute of Chartered Accountants of Nigeria as a Chartered Accountant (2001).

Tony Henshaw, President and CEO of Exile, commented: "I am very pleased to have attracted someone as highly recommended as Seyi to Exile Resources, and he is exactly the sort of person we had hoped to recruit as GM. Seyi's industry background, gained through local and international experience with major operators, adds considerable weight to his credibility for this position. He is a most welcome addition to the team, and we look forward to Seyi's involvement in taking forward the development of the Akepo Oilfield project, as well as helping to bring new projects to Exile."

The Company has issued to Mr. Ajibola 400,000 share purchase options at an exercise price of $0.25 expiring on July 18, 2012.

Since obtaining final government approval of Exile's position in the Akepo Oilfield (see press release dated April 27, 2007), the Company has, along with its partner Sogenal, been investigating development options as well as undertaking a review of the reservoir as a basis for development planning. It is anticipated that the results of this reservoir review will be available in August.

About Exile Resources Inc.

Exile Resources Inc. is an oil and gas exploration company advancing the development of the Akepo Oilfield in the shallow water Niger Delta, Nigeria. The Company is also pursuing additional oil and gas, exploration and development opportunities in Africa. Exile Resources Inc. has 35,828,656 issued and outstanding common shares. Please visit Exile Resource's web site for further information: www.exileresources.com.

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

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