Exile Resources Inc.
TSX VENTURE : ERI

Exile Resources Inc.

July 18, 2012 12:47 ET

Exile Resources Inc. Announces Correction

TORONTO, ONTARIO--(Marketwire - July 18, 2012) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Exile Resources Inc. ("Exile") (TSX VENTURE:ERI) wishes to correct its previous disclosure in connection with the closing of the proposed acquisition by Exile of the upstream exploration and production division of Oando PLC and certain related matters (collectively, the "Restructuring"), to note that the share purchase warrants of Exile to be issued to Exile shareholders in connection with the Restructuring shall be issued to Exile shareholders of record as of the close of business on July 23, 2012, and not July 24, 2012 as previously disclosed. The closing of the Restructuring remains scheduled for July 24, 2012.

For further details of the Restructuring, please refer to the management information circular of Exile dated as of November 28, 2011 and the press releases of Exile dated December 29, 2011; January 3, 2012; January 30, 2012; and July 18, 2012, all as available on SEDAR at www.sedar.com. The Restructuring remains subject to the final approval by the Toronto Stock Exchange.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Exile and Oando, including, but not limited to, potential delays in the closing of the Reorganization, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

NEITHER THE 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.

Contact Information