PET Peat Resources Ltd. (delisted)

Peat Resources Limited (TSX VENTURE:PET) announces that it has engaged IBK
Capital Corp. to complete a best efforts private placement of up to $150,000.
The placement consists of 2,500,000 units @ $0.06 per unit. Each unit consists
of one common share and one common share purchase warrant. Each warrant is
exercisable for two years from the closing date at an exercise price of $0.10
per common share. IBK Capital Corp. will be paid a cash commission of 10% of the
amount raised and 10% of the amount raised in the form of broker's warrants. 


The proceeds of the placement will be used for working capital.

Peat Resources Limited (TSXV:PET)
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