PER Peruvian Metals Corp

Petro-Reef Resources Ltd. (TSX VENTURE:PER), ("Petro-Reef" or the "Company")
announces that at Goose River, Alberta, the Company has successfully completed
the previously announced exploration well. The well was fracture stimulated and
initial production tests indicate inflow of formation and load oil of
approximately 30-35bbls per day encountered during sustained swabbing
operations. Approximately 375 bbl of load fluid remains to be recovered.
Recovery of load oil was suspended due to road bans. The well is currently
standing due to spring break-up. When weather permits, Petro-Reef plans on
further testing and evaluation of the well. The vertical well was set with seven
inch casing which provides the Company with the ability to drill a horizontal
well from the same well bore. 


At Alexander, Alberta the Company has drilled and cased two new wells targeting
oil. These two wells are awaiting tie-in after spring break-up. One other
previously drilled well has been tied-in and is expected to be brought on-stream
in the next week.

Peruvian Metals (TSXV:PER)
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