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EDE

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Share Name Share Symbol Market Type
TSXV:EDE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Edge Resources Inc. Kicks Off Multi-Well Drilling Program

04/12/2013 12:45pm

Marketwired Canada


Edge Resources Inc. ("Edge" or the "Company") (TSX VENTURE:EDE)(AIM:EDG) is very
pleased to announce that, following from the oversubscribed financing (announced
November 18, 2013), it has already secured a drilling rig for a multi- well
drilling program in Eye Hill, Saskatchewan. The Company is planning on drilling
a minimum of three wells back-to-back in December 2013.


The planned locations are within a few hundred meters of the existing, vertical
well that has far exceeded management's expectations; thus, instilling a very
high degree of confidence in the success of this program.


The target locations have been chosen based on the Company's intense
reinterpretation of previous geological and geophysical models of Edge's, and
nearby, reservoirs. Additionally, the Company has incorporated its extensive 2D
and 3D seismic data and the exceptional production results from the previously
drilled wells in Eye Hill East.


The Company is planning on drilling a minimum of three wells, all of which
should be drilled, completed and equipped for production testing prior to year
end. Given the very short lead time between closing the financing and mobilizing
the drilling rig, the Company hopes to add additional wells to the program if
time, regulatory approvals, weather and rig availability will allow.


Brad Nichol, President & CEO of Edge, commented, "I am impressed with our team's
ability to move so quickly and get a rig mobilized, wells licensed, locations
constructed and equipment ordered all on a moment's notice. Their agility should
allow us to get at least three wells drilled - and hopefully producing - before
Christmas. I am equally excited about the prospect of drilling three more wells
that produce just like our latest vertical in Eye Hill East. We are drilling
these three wells very near the existing producer that exceeded our expectations
so we're hoping for a nice surprise on these next three, as well. We expect to
update our shareholders on these three wells in January."


An annual stock option grant is the only compensation directors receive for
their services. As part of its annual grant, which has not actually occurred
since August, 2011, and to replace soon-expiring options, the Company also
announces the granting of 3,200,000 stock options to directors and officers of
the Company. The options are exercisable at $0.11 per share, vest in quarters
over a three-year period and expire five years after the date of grant.


About Edge Resources Inc.

Edge Resources is focused on developing its heavy oil properties within a
balanced portfolio of oil and natural gas assets from properties in Alberta and
Saskatchewan, Canada. Management has consistently focused on:




1.  Shallow, vertical, conventional programs with reduced capital,
    operational and geological risks 
2.  Very high or 100% working interests and fully operated assets 
3.  Pools and horizons with exceptionally high reserves in place 



The management team's very high drilling success rate is based on the safe,
efficient deployment of capital and a proven ability to efficiently execute in
shallow formations, which gives Edge Resources a sustainable, low-cost,
competitive advantage.


This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address future production, reserve potential, exploration drilling,
exploitation activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the expectations
expressed in such forward looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially from
those in forward looking statements include market prices, exploitation and
exploration successes, continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and those actual
results or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, Investors
should review the Company's registered filings which are available at
www.sedar.com.


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful. The
securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws.


Trading in the securities of Edge Resources Inc. should be considered highly
speculative. Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Edge Resources Inc.
Brad Nichol
President & CEO
+1 (403) 767-9905


Edge Resources Inc.
Ward Kondas
+1 (778) 918-8384
wkondas@edgeres.com
www.edgeres.com

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