Outlook Resources Inc.
TSX VENTURE : OLR

Outlook Resources Inc.

March 13, 2008 08:00 ET

Outlook Resources Provides Financial Forecasts for its Biomass Fuel Project

SELKIRK, MANITOBA--(Marketwire - March 13, 2008) - Outlook Resources Inc. (TSX VENTURE:OLR) today announced management forecasts for the Company's Engineered Biomass Fuel Cube project at Rosser, Manitoba.

Outlook Resources aims to make Prairie Bio Energy's proprietary biomass fuel cubes ("Prairie Bio-Cubes®") available to small, medium and large industrial scale users for an average price of $4.75 per Gigajoule ($75 per short ton), a competitive rate to that of lignite coal in the Winnipeg area. Outlook Resources' project development plan envisions four cubing lines collectively producing 18 tons per hour, 24 hours a day, 5 days a week, 250 days a year. Based on these numbers, the Prairie Green Road facility will produce 108,000 tons of biomass fuel annually. At this level of production, the anticipated yearly revenue from the Prairie Green Road project is expected to result in gross sales of $8 million generating EBITDA of 36%.

Prairie Bio Energy Inc., www.prairiebioenergy.com, has developed a patent-pending process for producing a Densified Biomass Fuel Cube designed to displace the use of Coal, Propane and Natural Gas in certain applications. Essentially Prairie Bio-Cubes® are made up of a blend of agricultural crop residues in combination with non-hazardous industrial processing wastes such as box-board, scrap paper and recycled wood. Additionally Prairie Bio-Cubes® are considered CO2 neutral since their combustion recycles present day carbon dioxide to the atmosphere that is sequestered during the growth of the biomass used to produce them.

Canada Turning a Corner

"On March 10, 2008, the Government announced further details of the greenhouse gas emissions regulations of the Turning the Corner plan, after extensive consultations with environmental groups, industry and other stakeholders. With its Turning the Corner plan, the Government of Canada is taking action and putting into place one of the toughest regulatory regimes in the world to cut greenhouse gas emissions. And it is a plan which balances the need to protect the environment while growing the economy.

"The Government is committed to drastically reducing Canada's greenhouse gas emissions and air pollution. Since emissions are continuing to grow, the Government of Canada has set a national target of an absolute 20% reduction in greenhouse gases from 2006 levels by 2020." - Environment Canada

About Outlook Resources Inc.

Outlook plans to produce a unique renewable fuel product from agricultural and municipal biomass residues, known as Densified Biomass Fuel, utilizing a proprietary process.

In addition Outlook is currently involved in a technology R&D program in partnership with the Nova Scotia Agricultural College which will allow for the extraction of higher value proteins and ultimately nutraceutical grade active ingredients providing a unique value added proposition to traditional food crop production.

This two pronged approach results in Outlook being particularly well positioned to process a variety of industrial processing residues and agricultural by-products in a manner that allows for the production of higher value, renewable, carbon neutral fuels and specialized vegetable based proteins.

Shares of the Company are listed for trading on the TSX Venture Exchange under the symbol "OLR".

To find out more about Outlook Resources Inc. (TSX VENTURE:OLR), please visit our website at www.outlookresources.com.

Should you wish to receive Company news via email, please email sasha@chfir.com and specify "Outlook Resources" in the subject line.

FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding production estimates and future plans and objectives of Outlook Resources are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of gross sales and EBITDA; risks relating to the completion of the acquisition of Prairie Bio Energy on its proposed terms, in the time frame proposed or at all; production and operating cost assumptions; development risks and costs; the risk of commodity price fluctuations; political and regulatory risks; and other risks and uncertainties as disclosed under the heading "Risk Factors" in its MD&A and elsewhere in Outlook Resources documents filed from time-to-time with regulatory authorities. Further, any forward-looking statement is made only as of a certain date and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or reflect the occurrence of unanticipated events, except as may be required by applicable securities laws. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.

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

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