Relentless Resources Ltd.
TSX VENTURE : RRL

Relentless Resources Ltd.

December 02, 2011 16:09 ET

Relentless Resources Re-Files 3rd Quarter Financial Statements and MD&A

CALGARY, ALBERTA--(Marketwire - Dec. 2, 2011) - Relentless Resources Ltd. (TSX VENTURE:RRL) ("Relentless" or "the Company") announced today that it has revised and re-filed its financial statements (unaudited) for the three and nine month periods ended September 30, 2011, to correct the calculation of total non-current liabilities and total liabilities on the Statements of Financial Position to $244 and $947 (in thousands of dollars), from $947 and $5,511 (in thousands of dollars), respectively. The re-filed financial statements replace the financial statements (unaudited) for the three and nine month periods ended September 30, 2011 originally filed on SEDAR on November 29, 2011.

The Company also confirms that it has revised and re-filed its Management's Discussion and Analysis for the three and nine months ended September 30, 2011 ("MD&A"), to correct the amounts and/or calculations under the Q3 2011 revenues, production and average prices column in the table found under the heading "Revenue from Oil and Natural Gas Operations" (page 6 of the MD&A), and in respect of the amounts of the Q3 2011 funds generated by (used for) operations in the paragraph and table under the heading of "Cash Flow and Earnings" (page 8 of the MD&A). The re-filed Financial Statements and MD&A replace the Financial Statements and MD&A for the three and nine month periods ended September 30, 2011 (Unaudited) originally filed on SEDAR on November 29, 2011.

There are no other changes to the previously filed financial statements (unaudited) or MD&A. The revised financial statements (unaudited) and MD&A has been filed with Canadian securities regulators on SEDAR and may be viewed on the Company's profile at www.sedar.com.

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.

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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