March Resources Corp.

March Resources Corp.

March 07, 2008 09:00 ET

March Resources Corp. Update on Pica #1 Well

CALGARY, ALBERTA--(Marketwire - March 7, 2008) - March Resources Corp. ("March") (TSX VENTURE:MCF) is pleased to provide an update on the progress of the drilling of the Pica #1 well in Chile. March previously spud the well on January 21, 2008 and provided a drilling update on February 21, 2008. They are presently drilling at approximately 2,350 metres depth. The drilling operation to date has gone extremely well, although the drilling was slower than expected through the volcanic tuff rocks previously encountered uphole of this depth.

March is anticipating that we will reach a total depth of between 3,200 and 3,500 metres within the next 10 to 14 days. Once total depth is reached the Corporation will log the well and prospective zones identified from logs and drill cutting samples will be completed and tested. The results of the logging and testing will be released as they become available.

March intends to complete Pica #1 and move immediately to the drilling of Pica #2. The well site construction for Pica # 2 has been completed and the Corporation anticipates the spud of Pica #2 within 7days of the completion of Pica #1. March has a 100% interest in the prospect.

Safe Harbour

Statements in this press release may contain forward-looking information including expectations of future operations, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

The TSX-Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

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