development of more energy efficient application of the catalytic cracking refining process that the company has committed to.
On behalf of Exact
Energy Resources, Inc. (the "Company") (PINK SHEETS:EXER) President Rod
Burns, P. Eng., reports that in keeping with the Company's decision to
expand its core areas of business within the resource sector, it has
extended its business considerations to include drilling prospects and
mineral deposit assets. Consideration was given to the broader scope of
the energy sector, and in the Company's pursuit of the development of
more energy efficient application of the catalytic cracking refining
process that the company has committed to.
"Over the past few months we have been carefully examining a
number of opportunities, both within our core area of business, as well
as within the resource sector in general. We have identified what we
believe to be a significant opportunity for the company" said Burns.
"In addition to the ongoing efforts within the petroleum sector, and
more particularly within the oil refinery industry, and our
participation through the Low Profile Fluid Catalytic Cracking
Technology, we want to take advantage of a tremendous opportunity for
this company" he continued.
The company has just entered into an agreement to acquire a
block of mineral leases in the state of Utah to acquire a deposit of
uranium reserves. Coupled with that acquisition was the addition to the
company's Board of Directors of Dr. Spenst Hansen. Dr. Hansen, BS, MS,
PHD, P. Eng., has been active in the mining industry for 42 years. In
that time he has gathered tremendous experience in all aspects of the
industry. Mr. Hansen has managed a multi-million dollar uranium
exploration program that successfully developed large uranium ore
reserves in Colorado, Wyoming and Utah. Under his direction, the
company operated two successful uranium mines. This division was
eventually sold off to a major uranium producing company.
"Mr. Hansen brings a rare skill set to our company in that with
his background he will be invaluable not only in putting together a
significant land package for the company, but he also brings valuable
experience in-house from grass roots exploration, drilling and all
phases of exploration right up to mine production" remarked Burns.
"With the addition of Dr. Hansen to our board of directors we gain
entry to a wealth of information that has allowed us to select a
significant Uranium resource property" said Burns. "He has been able to
deliver to the company a block of mineral leases which hold
considerable promise. Historic development has indicated that they are
rich in uranium and hold significant reserves. We are very excited
about our prospects in this area."
"We are adding a more detailed disclosure of the details of
this tremendous opportunity on our web site over the next few days"
remarked Burns. "This prospect brings enormous value to the Company".
While continuing to develop its energy interests within the
field of energy production, Exact Energy is committed to the principle
that carefully selected diversification leads to stronger fundamentals
for the company which will be better able to add to long-term
shareholder value.
Interested parties are invited to learn more about the Company by visiting the web site or contacting us.
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995. Prospective investors
are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties,
and that actual results may differ materially from those contemplated
by such forward-looking statements. Important factors currently known
to management that could cause actual results to differ materially from
those in forward-statements include fluctuation of operating results,
the ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation to
update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
