PET Peat Resources Ltd. (delisted)

Peat Resources Limited (TSX VENTURE:PET) was formed to explore, develop and
produce peat fuel for use in electricity generating stations and other
facilities that require a long-term assured supply of economically competitive,
environmentally favourable, and consistent quality fuel.


Over many years of intense international research and strategic
relationship-building Peat Resources Limited has distinguished itself as one of
the pre-eminent experts in the field of environmentally sensitive, sustainable
biomass energy fuel commercialization.


In addition to its worldwide connections, Peat Resources has contractually
secured a strong, evergreen resource base in Ontario and Newfoundland and is
currently establishing a pilot plant facility in Stephenville (Newfoundland) for
production of peat fuel pellets. In its 2007 energy plan, the Government of
Newfoundland and Labrador recognized the abundant peat resources of the province
and their potential for contributing to future energy needs.


Peat Resources is seeking applications and markets for its peat fuel - a biomass
fuel that offers significant economic and environmental benefits.


Altentech Power Inc. is the developer of a unique, biomass-fuelled power
generation system. Their proprietary technology results in vastly improved
combustion efficiencies while substantially reducing critical emissions into the
environment.


While there are many applications for Altentech's system(s) their business plan
calls for establishment of the first of several 10-mega watt peat powered plants
in Canada before proceeding on in a timely manner to other international peat
and non-peat fuelled opportunities.


Altentech will build and operate these Canadian plants to feed power into local
and North American energy grids and/or potentially in some cases, to supply
co-generated power and heat (steam) to remote off-line communities or industrial
customers. For example, remote communities around the shores of Newfoundland and
Labrador are potential locations for these peat-fuelled energy systems.


Clearly there is synergy between the two companies: Peat Resources as the holder
of vast peat inventories and developer of a way to harvest them in an
environmentally acceptable, even beneficial way, and Altentech Power with the
ground-breaking technologies to convert said fuel into highly saleable
electrical power in an efficient and environmentally superior manner.


To that end, Peat Resources is working with Altentech to facilitate location of
their first plant adjacent to our Newfoundland peat holdings and on consummating
a long-term (20 year/evergreen) contract that provides Peat Resources Limited
with a high volume customer and Altentech Power Inc. with a consistent fuel
supply.


Phase two of the engagement calls for similar mutually beneficial Altentech/Peat
Resources' related projects in Northern and Central Ontario linking established
peat resources and bio energy consumers.

Peat Resources Limited (TSXV:PET)
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Peat Resources Limited (TSXV:PET)
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