Outlook Resources Inc.

Outlook Resources Inc.

August 05, 2005 15:57 ET

Outlook Debt Settlement

TORONTO, ONTARIO--(CCNMatthews - Aug. 5, 2005) - Outlook Resources Inc. (Outlook) (TSX VENTURE:OLR) wishes to announce that it is negotiating to settle $48,000 in debentures due to three arm's-length parties plus accrued and unpaid interest estimated to be approximately $5,000 by Outlook issuing common shares to these creditors at a price of $0.0675 per share. If the transaction is completed, up to 800,000 common shares would be issued.

These transaction is subject to the approval of the TSX Venture Exchange.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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