PET Peat Resources Ltd. (delisted)

Peat Resources Limited (the "Company") (TSX VENTURE:PET) announces that it has
engaged IBK Capital Corp. to complete a best efforts private placement of up to
$100,000. The placement consists of 2,500,000 units at $0.04 per unit. Each unit
consists of one common share and one common share purchase warrant. Each warrant
is exercisable for one year from the closing date at an exercise price of $0.05
per common share and for an additional three years at an exercise price of
$0.10. IBK will be paid a cash commission of 10% of the amount raised and 10% of
the amount raised in broker warrants. Each broker warrant entitles the holder to
purchase one common share and is exercisable for one year at $0.05 and for three
additional years at $0.10 per share.


The terms of the private placement are according to the TSX Venture Exchange
(the "Exchange") Extension and Modification of Temporary Relief from Certain
Pricing Requirements Bulletin dated April 12, 2013 and are subject to Exchange
approval. 


Peat Resources Limited continues to pursue opportunities for its peat fuel
pellets in specialty markets and as value-added industrial products such as
activated carbon. Activated carbon products are used by large coal-burning power
generation companies in the Unites States as an effective component of emission
control systems to reduce mercury pollution and for specialty applications in
the pharmaceutical, food and beverage industries. 


As described in April by CEO Peter Telford, addressing an Ontario Power
conference in Toronto, the Company takes the strategic position that bioenergy
resources such as peat are most successful in circumstances calling specifically
for environmental advantages conferred by the Company's unique wet harvesting
process. Peat fuel produced by this method meets European Union criteria for
sustainable bioenergy and becomes eligible for various financial incentives to
European users of the product. This has raised interest in the Company's
resources and operations in Newfoundland that are favourably situated for
trans-Atlantic export. Discussions with one party are ongoing regarding the use
of peat pellets as a bioenergy fuel for major power generation in Europe. 


Dr. Telford also noted how local niche markets are another important opportunity
for use of peat fuel and application of the Company's biomass fuel processing
technology. These include, for example, remote communities and mining
developments of northern Ontario that rely on expensive diesel fuel but which
are frequently located close to extensive, accessible peat resources. Peat
Resources Limited is currently in discussion with First Nation representatives
for the purpose of establishing, in selected communities of northern Ontario,
peat-fuelled combined heat-and-power systems of similar scale to the Company's
small-scale production facility in Stephenville (Newfoundland).


Similar environmental and economic benefits of peat fuel pellets are part of
several promising opportunities in China where, as previously reported, Peat
Resources Limited sent a 20 tonne shipment of pellets for demonstration and
marketing purposes and where sensitivity to environmental issues has increased.


Peat Resources Limited is a Toronto-based clean energy company that was formed
to develop and produce a sustainable peat fuel.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Peat Resources Limited
Peter Telford
President and CEO
416 862-7885
416 862-7889 (FAX)
ptelford@peatresources.com


Peat Resources Limited
Suite 1310 - 4 King Street West
Toronto, Ontario M5H 1B6
416 862-7885
416 862-7889 (FAX)
peatfuel@peatresources.com
www.peatresources.com

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