SOURCE: Topaz Resources, Inc.

Topaz Resources, Inc.

October 08, 2010 16:00 ET

Topaz Provides Corporate Update

DENTON, TX--(Marketwire - October 8, 2010) -  Topaz Resources, Inc. (OTCBB: TOPZ) is pleased to provide an update on the Company's business and operations. Since trading commenced on the Bulletin Board, Topaz has started consolidating the oil and gas properties held by affiliates into Topaz, and assembled a management team with a wealth of experience in building oil & gas companies in north, west and central Texas.

Notably, the Company has completed drilling operations on its first Barnett oil well to a total depth of 7740 feet, for which logs show good potential production in three formations. Topaz also initiated a Partner Program and signed definitive agreements with their first partner for a multi-well development program. Most recently, Topaz has identified a significant portfolio of potential new projects and acquisitions and has begun due diligence.

Edward J. Munden, the Chief Executive Officer of Topaz Resources, stated, "We are very pleased with our progress towards achieving our first year operational objectives. As our 2010 program matures over the next three months, we will build on these successes. We intend to complete the consolidation of affiliate owned properties, acquire oil and gas property, and commence well workover and drilling programs."

About Topaz Resources

Topaz Resources is an independent oil and gas company focusing on production, acquisitions and developmental drilling opportunities within proven producing areas of north, central and west Texas. Please read more about the Company and its projects at

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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