King Resources Inc.
PINK SHEETS : KING

King Resources Inc.

December 10, 2010 15:45 ET

King Resources (KING) Completed Merger With Cressent Energy and Corporate Update Settlement of Litigation

HENDERSON, NEVADA--(Marketwire - Dec. 10, 2010) - King Resources, Inc. (PINK SHEETS:KING) (http://www.king-resources.com) has completed merger with US-based oil and gas company Cressent Energy (http://www.cressentenergy.com/).

Further to the press release from November 30, 2010 the merger negotiations between the two companies has come to a quick resolution. King Resources saw Cressent Energy's vast potential and acted on it. From this point on, the KING management looks forward to raise shareholder value and grow in its market niche.

King Resources is an independent exploration and production company engaged in the acquisition, drilling and production of oil and natural gas in the United States and overseas. KING is pleased to have a subsidiary in the same industry, and foresees these companies working seamlessly together.

In other news, a minor litigation matter that company two majority shareholders were engaged in and created an overhang for KING has now successfully finalized to a mutual satisfaction. KING management wishes Belmont Partners all the best in their future endeavours.

In addition to the Cressent Energy merger, the company is confident that a second separate merger candidate is interested in becoming a part of the KING family. The company will advise the public as the negotiations progress.

Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of King Resources, Inc., that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. King Resources, Inc. cautions you that any forward-looking information provided by or on behalf of King Resources, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. King Resources, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond King Resources, Inc.'s control. In addition to those discussed in King Resources, Inc.'s press releases, public filings, and statements by King Resources, Inc.'s management, including, but not limited to, King Resources, Inc.'s estimate of the sufficiency of its existing capital resources, King Resources, Inc.'s ability to raise additional capital to fund future operations, King Resources, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match King Resources, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. King Resources, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

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