Relentless Resources Ltd.

November 15, 2010 16:20 ET

Relentless Increases Maximum Under Private Placement

CALGARY, ALBERTA--(Marketwire - Nov. 15, 2010) - Relentless Resources Ltd. ("Relentless" or "the Company") (TSX VENTURE:RRL), in an update to the Company's previously announced non-brokered private placement offering of up to 4,000,000 common shares at a price of $0.20 per share (the "Offering"), announces that the Board of Directors of the Company have authorized an increase the maximum number of common shares for issuance and sale under the Offering to 5,500,000 common shares in order to accommodate strong demand. The Offering now consists of up to 5,500,000 common shares at a price of $0.20 per share for gross proceeds of up to $1,100,000, subject to acceptance by the TSX Venture Exchange (the "Exchange").

Closing of the private placement is conditional upon, and will occur contemporaneously with, closing of the Company's previously announced proposed acquisition of a 100% working interest in petroleum & natural gas rights on 1,295 ha (3,200 acres) of contiguous lands in southwest Saskatchewan (the "Assets") from a private arm's length oil & gas company. The net proceeds of the private placement will be applied to the $500,000 cash portion of the $550,000 purchase price for the Assets, with the remaining net proceeds to be used for general working capital purposes.

All securities issued under the private placement will be subject to a four-month hold period from the date of issuance in accordance with Exchange policies and applicable securities laws.

About Relentless Resources Ltd.

Relentless is a Calgary based emerging oil and natural gas company, engaged in the exploration, development, acquisition and production of natural gas and light gravity crude oil reserves in Alberta and Saskatchewan. Relentless's common shares trade on the TSX Venture Exchange under the symbol RRL.

Relentless's primary corporate objective is to achieve non-dilutive growth and enhance shareholder value through internal prospect development, strategic production acquisitions and prudent financial management.

Reader Advisory

This news release contains certain forward-looking information and statements with the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "confident", "might", "proposed" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the completion of the fund raising activities, the acquisition of petroleum and natural gas interests and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results or performance. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Relentless's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so what benefits Relentless will derive there from. Relentless disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws.

The securities proposed to be issued have not been registered under the U.S. Securities Act of 1933 as amended or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This Press Release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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