ESR Esrey Resources Ltd

ERA Carbon Offsets Ltd. ("ERA" or the "Company") (TSX VENTURE:ESR) is pleased to
announce a non-brokered private placement (the "Financing") of 1,500,000 units
(the "Units") at a price of $0.13 per Unit for gross proceeds of approximately
$195,000. Each Unit consists of one common share of the Company and one share
purchase warrant exercisable for a period of four (4) years at an exercise price
of $0.17 per share. No finder's fees or commissions are payable on the
Financing. 


The proceeds of the Financing will be used for general working capital purposes. 

The Financing includes participation by Forest Carbon Group AG, the Company's
largest shareholder, which has elected to maintain its approximately 30%
interest in the Company by participating in the Financing and in the private
placement announced on September 17, 2012. 


UPDATED PRIVATE PLACEMENT FINANCING 

The Company's previously announced private placement financing (the "September
Financing") totaling 2,000,000 units priced at $0.11 per unit with a one (1)
year $0.11 warrant has been amended to comprise of one common share at a price
of $0.11 and one share purchase warrant exercisable for a period of two (2) year
at an exercise price of $0.21 per share. Proceeds of the September Financing
will be approximately $220,000. 


Proceeds will be used for part of the payment of the previously announced
acquisition. No commissions or finder's fees are payable on the September
Financing. 


Robert Falls, Ph.D., R.P.Bio., Chairman

ERA Carbon Offsets

About ERA Carbon Offsets Ltd. 

A pioneer in carbon offset projects based on forest conservation and
restoration, ERA has delivered over two million tonnes of carbon offsets to the
voluntary market from a variety of international forestry based projects. The
company's Community Ecosystem Restoration Program ("CERP") began in 2005 in
British Columbia, Canada, and has delivered large scale restoration of riparian
ecosystems throughout the Lower Mainland of British Columbia. ERA's successful
project development activities include the award winning Darkwoods and Denman
Island forest carbon projects, the first REDD concessions in the Democratic
Republic of Congo in central Africa and Improved Forest Management projects in
the United States which are expected to deliver ARB compliant tonnes for the
California market beginning in 2013. Our activities span Canada, Africa, the
United States and New Zealand. ERA's carbon offset projects are validated and
verified to ISO-14064, CCBA, PFSI-VER, CAR and VCS standards and sell into
voluntary and pre-compliance carbon markets. ERA's clients and product users
include, Catalyst Paper, Rolling Stone Magazine, HSE - Entega, Forest Carbon
Group AG, and Shell Canada Limited. 


Additional information about ERA can be found on the corporate website
www.eraecosystems.com.


Additional information on ERA can be found on the corporate website
www.eracarbonoffsets.com or by contacting investor@eracarbonoffsets.com.


FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as
well as historical information. Forward-looking statements include, but are not
limited to, the continued advancement of the company's general business
development, research development and the company's development of forest-based
carbon offsets. When used in this document, the words "anticipate", "believe",
"estimate", "expect", "intent", "may", "project", "plan", "should" and similar
expressions may identify forward-looking statements. Although ERA Carbon Offsets
Ltd. believes that their expectations reflected in these forward looking
statements are reasonable, such statements involve risks and uncertainties and
no assurance can be given that actual results will be consistent with these
forward-looking statements. Important factors that could cause actual results to
differ from these forward-looking statements include fluctuations in the
marketplace for the sale of carbon credits, the inability to implement corporate
strategies, the ability to obtain financing and other risks disclosed in our
filings made with Canadian Securities Regulators.

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