November 09, 2007 08:30 ET

Tyler Resources Engages Financial and Legal Advisors in Response To Proposed Hostile Offer From Mercator Minerals

CALGARY, ALBERTA--(Marketwire - Nov. 9, 2007) - Tyler Resources Inc. (TSX VENTURE:TYS) ("Tyler") announced today that its Special Committee of independent directors has engaged CIBC World Markets Inc. as financial advisor and Burnet, Duckworth & Palmer LLP as legal advisor. As previously disclosed, the Special Committee was appointed on October 22, 2007 in response to an announcement by Mercator Minerals Ltd. ("Mercator") on October 19, 2007 that Mercator intends to make an offer to acquire Tyler on the basis of 0.113 of a Mercator share for each Tyler share. To Tyler's knowledge the Mercator offer has not yet been formally commenced.

The Special Committee, with the assistance of its financial and legal advisors, will consider strategic alternatives available to Tyler in light of any formal offer if and when it is made, including the alternative of continuing as a stand-alone company.

Separately, the Board of Directors deferred the "Separation Time" under the Tyler's Shareholder Rights Plan until a date to be determined by the Board in the future. This is necessary to prevent the rights from becoming exercisable 10 business days after the announcement of Mercator's of intention to make an unsolicited offer, since the proposed offer by Mercator does not meet the criteria required for it to be a "Permitted Bid" under the Shareholder Rights Plan.

About Tyler Resources Inc.

Tyler Resources Inc. is a well-funded Canadian junior exploration company focused on base and precious metals exploration in Mexico. Tyler's primary project is the Bahuerachi property, which hosts Mexico's fourth largest mineralized porphyry deposit. As part of its ongoing drill program, the company has now drilled in excess of 52,000 metres of combined diamond and reverse circulation drilling since 2004, making it one of the most active Canadian junior exploration companies operating in Mexico.

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

Contact Information

  • Corporate Contacts: Tyler Resources Inc.
    Jean Pierre Jutras
    (403) 269-6753
    (403) 266-2606 (FAX)
    Website: www.tylerresources.com
    Media Contacts:
    Longview Communications Inc.
    Alan Bayless
    (604) 694-6035
    Longview Communications Inc.
    David Ryan
    (604) 694-6031
    Shareholder Information:
    Kingsdale Shareholder Services Inc.
    Toll Free: 1-866-639-3460