SOURCE: Freestone Resources, Inc.

May 03, 2011 10:00 ET

Freestone Resources, Inc. Announces Richard Feldman Joins Its Advisory Board

DALLAS, TX--(Marketwire - May 3, 2011) - Freestone Resources, Inc. (OTCBB: FSNR) announced today that Richard Feldman has joined its Advisory Board as its newest member.

Mr. Feldman, age 58, is a New York-based businessman. He is the major shareholder and CEO of a multi-million dollar, privately held apparel manufacturing company with facilities in both New York and the Caribbean. Additionally he is an active partner and board member of several privately held real estate companies that own and operate commercial and industrial properties in and around Manhattan.

As a private investor, Mr. Feldman has made previous investments in oil sand extraction and production technology. As such he has a keen awareness of the enormous economic potential of the Freestone oil recovery system. He is also excited by the larger geo-political impact that can be realized from the successful development of Freestone's environmentally conscious method of hydrocarbon extraction.

"Mr. Feldman is a well respected businessman with decades of experience in various industries, as well as a successful history of corporate negotiations. We are pleased that he has joined the Freestone team, and are very proud to add him to our Advisory Board," said Clayton Carter, President of Freestone Resources. "In addition, we look forward to updating our shareholders very shortly on the status of our previously announced negotiations with Hydrex Corp."

About Freestone Resources, Inc.:
Freestone Resources is a Dallas, Texas based oil and gas technology development company. The continuing goal of the Company is to develop new technologies that allow for the utilization of our vast resources in an environmentally responsible and cost effective way.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact Information

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    Freestone Resources, Inc.
    Don Edwards