AXP Quattro Exploration & Prod Ltd

AccelRate Power Systems Inc. (TSX VENTURE:AXP) is pleased to announce that it
has entered into an option agreement entitling it to acquire a 100% interest in
the BRC property, which is located in the heart of the Yukon White Gold District
only 5 km east-northeast of the 1 million ounce Golden Saddle deposit. The BRC
claims are contiguous with and bordered by Kinross claims to the west, south,
and east. The BRC option brings the Company's total Yukon land position under
option to 3782 claims totaling more than 79,000 hectares, comprising 24
stand-alone gold prospects primarily targeting either the Carlin or Orogenic
Coffee Creek models. 


The BRC option and all previously announced property options are subject to
acceptance by the TSX Venture Exchange and completion of the Change of Business
("COB") announced by AccelRate on November 24, 2010. Upon successful completion
of the COB, the Company intends to change its name to Goldstrike Resources Ltd.
and will become a pure gold explorer.


The BRC property contains at least two strongly anomalous, parallel
east-northeast gold trends approximately 1 km long. These two trends are
parallel to, and approximately on trend with the Golden Saddle deposit, located
only 5 km to the west-southwest. The gold values seen on the BRC claims are
comparable to the values found in the initial soil geochemistry over the Golden
Saddle deposit. The highest government gold silt anomaly in the area was taken
from a creek draining north from the parallel BRC gold trends, and a 585.2 ppb
gold soil sample was taken only 4 km east of the BRC property in 2005. The ridge
that adjoins the west side of the BRC property is at the head of four creeks
that feature active placer mining. Based on the geochemical trends, their
orientations, and the geology and geophysics, the BRC claims appear to have many
of the key indicators that led to the discovery of the Kinross Golden Saddle
deposit.


The next phase of exploration will be planned to include detailed geological
mapping, prospecting, infill soil geochemistry, deep auger sampling and
trenching directed towards identifying key horizons and drill target definition.



"The BRC property is a valuable strategic asset that adds substantial value to
our extensive Yukon gold exploration portfolio," said AccelRate President and
CEO Reimar Koch. "We have an excellent land position in all of the major gold
plays in the Territory, with numerous strong targets and an experienced Yukon
technical team in place, as well as the funding required to execute an
aggressive exploration program in 2011. The Company has great expectations for
the upcoming phase of exploration. Having exposure to this emerging gold
district is certain to add shareholder value well into the future." 


Mr. Bryant, President of Petro One, said, "We are very pleased with the
additional properties that AccelRate has acquired rights to since optioning the
Lucky Strike from Petro One, and with AccelRate's recent $ 6 million dollar
financing. We will now be able to operate as a pure oil company focused on
exploration and development while maintaining significant upside potential from
a substantial equity position in AccelRate, a 30% carried interest in the Lucky
Strike property and an NSR on each of the Lucky Strike and BRC claim blocks. The
equity position will also provide exposure to AccelRate's 22 other Gold
properties in the Yukon. We are confident that the Lucky Strike and BRC option
arrangements will create significant additional shareholder value for the
shareholders of Petro One."


Summaries of all 24 properties under option to AccelRate are now available for
review at www.accelrate.com.


OPTION TERMS

The new option is the subject of an arm's length agreement entered into with
Petro One Energy Inc. (TSX VENTURE:POP). The essential terms of the option are
as follows: 


1. The Company may exercise the option by issuing shares and warrants as follows:



On or Before (Date)             Shares       Warrants  Exploration Expenses
------------------           ---------      ---------  --------------------
                                                                           
TSXV Acceptance + 5          2,000,000      3,000,000                See #2
Nov. 1, 2012                 1,000,000      3,000,000                      
                                                                           
Total:                       3,000,000      6,000,000                      



2. The Agreement provides that AccelRate will arrange for a 2011 exploration
program for the BRC and/or other claims under option to AccelRate, to cost not
less than $200,000, and that $200,000 of such expenses will be incurred and paid
by Petro One using flow-through funds raised by Petro One during 2010.


3. Each Warrant issued upon TSXV acceptance will be exercisable for five years
thereafter at the exercise price of $0.70 (the "Minimum Exercise Price"). Each
Warrant issued on November 1, 2012 will be exercisable for five years thereafter
at the greater of the volume weighted average price of the Company's shares on
the TSXV over the 30 trading days immediately preceding the issue date and the
Minimum Exercise Price. No Warrant may be exercised if, after such exercise,
Petro One would hold 10% or more of AccelRate's outstanding shares.


4. The Option entitles AccelRate to acquire a 100% interest in the BRC property,
subject to a 1% net smelter returns royalty in favour of Petro One, an
underlying 3% net smelter returns royalty in favour of a former owner, and a 5
km Area of Interest. AccelRate will not have the right to purchase the Petro One
NSR, but will have the right to purchase one-third (i.e. 1%) of the underlying
NSR for $1,000,000 at any time prior to the commencement of commercial
production. 


5. All shares issued to exercise the option will be subject to a four month
hold. AccelRate must keep the claims in good standing, apply all work carried
out towards assessment and file such assessment reports within 6 months of
completing any exploration work. In addition, AccelRate will be responsible for
all reclamation required.


There has been no change to the status of the COB. The Company is making
required filings respecting the COB in accordance with Exchange Policy. It
anticipates those filings will be reviewed in the ordinary course. However, the
TSXV has in no way passed upon the merits of the proposed COB and has neither
approved nor disapproved the contents of this press release. There can be no
assurance that that the COB or other transactions described herein will be
completed as proposed or at all. 


Investors are cautioned that, except as disclosed in the Filing Statement or
Management Information Circular to be prepared in connection with the proposed
COB, any information released or received with respect to the COB may not be
accurate or complete and should not be relied upon. Trading in the securities of
AccelRate should be considered highly speculative. 


The technical information in this news release has been reviewed by Trevor J.
Bremner, M.Sc., P.Geo., a qualified person for the purposes of National
Instrument 43-101. 


Reimar Koch, President

AccelRate Power Systems Inc.

Peter Bryant, President

Petro One Energy Inc.

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