PET Peat Resources Ltd. (delisted)

Peat Resources Limited (TSX VENTURE:PET) is pleased to announce the appointment
of Robert T. Wright as Vice Chairman of the Company.


Mr. Wright brings to this position a wealth of experience in the North American
energy sector. He has detailed knowledge of the needs and opportunities within
this sector. As the former Managing Director and Head of the North American
Utilities and Power Group of TD Securities Inc., he was involved in major
corporate and financial developments in the utility industry. 


In Ontario, Mr. Wright structured some of the largest energy projects including
advising British Energy on the lease of eight nuclear reactors from Ontario
Power Generation, the divestiture of an interest in Mississauga Hydro to
Borealis, the purchase by Hydro One of over 85 local distribution companies, the
corporatization of Toronto Hydro and the divestiture by Duke Energy of its
interest in the Vector Pipeline to Enbridge Inc. 


Mr. Wright also served previously with Merrill Lynch Canada Inc. and Peat
Marwick Mitchell. He is a Chartered Accountant and holds a Bachelor of
Mathematics degree from the University of Waterloo.


The Company also announces it has granted options to purchase up to an aggregate
of 3,000,000 common shares of Peat Resources Limited to six directors and one
consultant. The options are exercisable at $0.20 per share and will expire on
January 19, 2015. Following this grant, the Company will have 3,900,000 options
issued under its rolling 10% stock option plan with 48,258,816 issued and
outstanding common shares.


The transactions are subject to certain conditions, including regulatory approval.

Peat Resources Limited was formed to explore, develop, produce and market peat
fuel - a sustainable bioenergy resource. Rising energy prices, increased
sensitivity to environmental issues, and government energy policies, including
Ontario's commitment to eliminate the burning of coal for power generation, have
enhanced opportunities for the use of peat fuel in electricity generating
stations and other facilities that require economically competitive,
environmentally favourable, and consistent quality energy supplies.

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