Outlook Resources Inc.

Outlook Resources Inc.

April 20, 2007 09:00 ET

Outlook Enters Co-Products R&D Program With NSAC

TORONTO, ONTARIO--(CCNMatthews - April 20, 2007) - Outlook Resources Inc. ("Outlook" or the "Company") (TSX VENTURE:OLR) wishes to announce that the Company has entered into a research investment agreement with Atlantic Bio Venture Centre at Nova Scotia Agricultural College ("NSAC") to develop a unique technology platform for bio-fuel co-products and plant-sourced protein aquaculture diets.

The innovative research initiative will utilize a combination of grain and oilseed sourced proteins in combination with proprietary marine proteins and marine palatant materials.

The agreement between the Company and NSAC will be in effect until 2010 and involves an overall research commitment of $1,150,000 (one million, one hundred and fifty thousand dollars) between the Atlantic Innovation Fund provisioned by the Atlantic Canada Opportunity Agency and the Company.

The research and development program will be led by Dr Richard F. Ablett, CEP, Atlantic Bio Venture Centre and Professor, Bio Science Development, Department of Engineering, NSAC.

Dr Ablett stated: "We are pleased to collaborate with Outlook Resources as a commercial partner in this important research program which seeks to establish valuable co-products associated with bio-fuel production and at the same time establish high quality plant-sourced protein diets for the rapidly growing global aquaculture sector."

John Bottomley, President & CEO of Outlook, went on to say; "We are extremely grateful to be a part of this research program with NSAC when you consider the F.A.O. (the United Nations Food and Agriculture Organization) estimates that by 2010, over 50% of the seafood and fish products we consume will be produced under aquaculture systems and the industry consensus is that plant-sourced protein will be needed to support the necessary growth of this sector as fish meal supplies and prices come under increasing pressure."

"In addition, the demand for renewable bio-fuels production in Canada and elsewhere is growing rapidly and associated co-product developments are needed to enhance investor returns and to ensure the long term sustainability of renewable fuels production."

Outlook Resources is committed to developing and commercializing technologies associated with the bio-fuels sector and with co-product strategies that are linked to "Agri-health", Agri Bio-products" and "Agri-energy" developments.

The Company will commence its R&D program at NSAC in June, 2007 and the production trials will be linked to the Company's Arctic char production facility located at Gunton, Manitoba.

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

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