Sheltered Oak Resources Corp. ("OAK" or the "Company") (TSX VENTURE:OAK)
announces today that by way of a letter agreement from Goldcorp Canada Ltd. and
Goldcorp Inc. (collectively with Goldcorp Canada Ltd., "Goldcorp") dated
December 17, 2012 and duly acknowledged by the Company and Sheltered Oak
Resources Inc. ("Oak Subsidiary") on December 20, 2012, Goldcorp and the Company
have agreed to waive certain obligations of the Company and Oak Subsidiary in
connection with the option agreement dated April 21, 2011 (the "Option
Agreement") entered into between the Company, Oak Subsidiary and Goldcorp which
relates to the option of the Company to earn a 60% interest in certain mining
claims located in Kerrs Township, Ontario. 


More specifically, Goldcorp has agreed to waive the following obligations of the
Company and/or Oak Subsidiary: (i) the requirement of the Company and/or Oak
Subsidiary to incur the minimum qualify expenditures and complete the minimum
core diamond drilling on the Kerrs Township property that were committed
pursuant to the Option Agreement; and (ii) the requirement of the Company to
issue common shares in the capital of the Company to Goldcorp as contemplated by
the Option Agreement. All other amounts due and obligations pursuant to the
Option Agreement remain fully enforceable by Goldcorp.


ABOUT SHELTERED OAK RESOURCES CORP.

Sheltered Oak Resources Corp. is focused on mineral exploration opportunities
within Canada and owns a 100% interest in 27 mining claims, including mining
leases totaling 4,176 hectares which comprise the Kerrs Gold Property, located
east of Matheson in the prolific area of the Abitibi Greenstone Belt in
northeastern Ontario.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Sheltered Oak Resources Corp.
J.J Elkin
CEO
416-628-5802
416-628-5051 (FAX)
des874@aol.com


Sheltered Oak Resources Corp.
Art Hampson
Chief Financial Officer
416-628-5802
416-628-5051 (FAX)
ahampson@shelteredoak.com
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