PET Peat Resources Ltd. (delisted)

Peat Resources Limited (TSX VENTURE:PET) was formed to explore, develop and
produce peat fuel - a sustainable bioenergy resource. The company is currently
pursuing two major opportunities in Ontario and Newfoundland as part of its
mission to build a North American peat fuel production company that will supply
environmentally acceptable, economically competitive and consistent quality fuel
for power generation and related industrial activities.


Peat Resources Limited is seeking a strategic partner to develop these
opportunities - looking at up to 1 million tonnes annual production in Ontario
and 5 million tonnes annually in Newfoundland - and is currently in discussion
with companies in the utility, coal and forest products industries. IBK Capital
Corp. has been engaged as a financial advisor to assist in this process and to
raise necessary interim financing.


In Ontario, there has been considerable recent interest in the Ring of Fire
mineral discoveries at McFaulds Lake in the James Bay Lowland. The Ontario
provincial government has thrown its support to the Ring of Fire development and
an important issue that must be addressed is the provision of reasonably priced
power to satisfy the huge energy demand of the mining and especially the ore
processing. Peat fuel can help the provincial government meets its promise to
stop the burning of coal for electricity generation but keep the northern power
plants running at full capacity (generating about 500 MW) to satisfy the future
energy needs. Peat Resources Limited has NI 43-101 resources of fuel-grade peat
in NW Ontario which can supply OPG's Atikokan and Thunder Bay generating
stations for more than 20 years.


In Newfoundland, where Peat Resources Limited also holds rights to extensive
peat fuel resources, there is an opportunity for large scale development of
these deposits to produce up to 5 million tonnes per year of peat fuel pellets
for export to trans-Atlantic markets. Several coal-burning power stations in the
U.K. (generating about 7,000 MW) are under threat of closure by 2015 for failing
to meet EU environmental standards. To avoid future energy shortages, acceptable
alternative fuels are being sought. A biomass fuel such as peat satisfies
European sustainability criteria. The large Newfoundland resources satisfy U.K.
concerns about security-of-supply and can provide for long-term (+ 20 year)
contracts.

Peat Resources Limited (TSXV:PET)
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Peat Resources Limited (TSXV:PET)
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From Jul 2023 to Jul 2024