RRK

Red Rock Energy Inc. (TSX VENTURE:RRK) ("Red Rock" or the "Corporation")
announced today that the Board of Directors of the Corporation intends to
investigate the procurement of a joint venture partner or to otherwise determine
whether a disposition can be negotiated in respect of the Corporation's uranium
exploration interests in Northern Saskatchewan. To that end, Red Rock has
retained the services of Probity Capital Advisors Inc. ("Probity"), a
Calgary-based financial advisory firm specializing in merger, acquisition and
divestiture services for mid-market resource corporations. 


With the assistance of Probity, Red Rock management will evaluate strategic
alternatives which may include, but are not limited to: a private placement or
other offering of equity or debt, the saleof a material portion or all of the
uranium exploration assets of the Corporation; or a farm-out or joint venture
focused strictly on those assets. The Uranium City assets include a land
position of 60,581 hectares in a region with historical production of 77 million
pounds of uranium at an average grade of .25%. The total confirmed resource in
place as determined by Red Rock exploration activities is 3.89 million pounds,
with significant historical resources estimated to be within a short distance of
the new Redox discovery zone. 


The Corporation has not established a definitive timeline to complete this
activity, but it has executed a retainer agreement with Probity. No decision on
any particular alternative has been reached at this time. There can be no
assurance that the process will result in a transaction of any form or, if a
transaction is undertaken, as to its terms or timing. The Corporation does not
intend to make any further announcements regarding the process unless and until
the Board has approved a specific transaction or other course of action or
otherwise deems disclosure of developments is appropriate. The Corporation
intends to continue to pursue its present business plan during this period which
is to exploit its oil and gas properties in Northeastern British Columbia. These
activities include re-entries, new drilling and tie-in operations on its lease
operatorship in the Caribou area. 


In discussing the Board's decision to take this action, Sandy Loutitt, President
of Red Rock, commented: "While we recognize that the Uranium City properties
have represented a key element to the business strategy of Red Rock in the past,
the strong opportunities presented to us by our oil and gas development team,
has encouraged us to consider the possible disposition of these assets."


READER ADVISORY 

Statements in this press release may contain forward-looking information
including expectations of future production, operating costs, commodity prices,
administrative costs, commodity price risk management activity, acquisitions and
dispositions, capital spending, access to credit facilities, income taxes,
regulatory changes, and other components of cash flow and earnings. The reader
is cautioned that assumptions used in the preparation of such information may
prove to be incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, a result of numerous known and unknown
risks, uncertainties, and other factors, many of which are beyond the control of
the company. These risks include, but are not limited to, the risks associated
with the mining industry, commodity prices and exchange rate changes. Industry
related risks could include, but are not limited to, operational risks in
exploration, development and production, delays or changes in plans, risks
associated to the uncertainty of reserve estimates, health and safety risks and
the uncertainty of estimates and projections of production, costs and expenses.
The reader is cautioned not to place undue reliance on this forward-looking
information.

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