Outlook Resources Inc.

Outlook Resources Inc.

August 11, 2005 11:12 ET

Outlook Resources: Corporate Update and Financing

TORONTO, ONTARIO--(CCNMatthews - Aug. 11, 2005) - Outlook Resources Inc. (Outlook)(TSX VENTURE:OLR)

Outlook Resources is pleased to report that the Company is moving ahead with its Ethanol projects in Manitoba, along with its partners Parkland Ethanol Co-Op and Brokenhead Ojibway Nation.

As previously announced, the alliance with Econcept is attracting interest for additional projects both in North America and Europe. The advanced technology platform developed by Econcept results in fossil fuel free and greenhouse gas reduced production of Ethanol which together provides significant economic and environmental advantages.

At its aquaculture operations in Gunton Manitoba, Arctic Char inventory is being increased to 800,000 fish from 400,000. Development of other fish farms locally and abroad is being pursued as product demand continues to increase.

Financing to continue advancing its primary business opportunities of renewable energy and aquaculture development will be achieved through the issuance of up to 20 million units at $0.10 per unit to raise gross proceeds of up to $2,000,000. Each unit shall consist of one (1) common share and one (1) share purchase warrant exercisable for a period of eighteen (18) months from closing at a price of $0.15 per share for the first six months, $0.30 per share of the next six months and $0.60 per share for the final six months. This 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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