Maple Leaf Resource Corp. Announces Transfer of Shares, Filing of Early Warning Report and Grant of Stock Options

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Maple Leaf Resource Corp. (TSX VENTURE:MPL.P) (the "Company") in connection with
the appointment of Jonathan Lexier as President, Chief Executive Officer and a
director of the Company, the Company announces that Shane Doyle, a director of
the Company, has entered into an agreement to sell 750,000 common shares of the
Company for cash consideration of $0.05 per common share to Lanark Energy
Management Corp. ("Lanark"), which is an Alberta corporation controlled by Mr.
Lexier and his immediate family. The transfer of the common shares (the
"Transferred Shares") of the Company from Mr. Doyle to Lanark is subject to the
terms of an escrow agreement between the Company, Valiant Trust Company, and the
securityholders of the Company, which was entered into in connection with the
initial public offering of the Company (the "Escrow Agreement"), and the
Transferred Shares will remain in escrow in accordance with the terms of the
Escrow Agreement. In connection with the purchase of the Transferred Shares, Mr.
Lexier relied on the exemption set out in Section 2.5 of National Instrument
45-106 - Prospectus and Registration Exemptions, in view of his position as an
executive officer and a director of the Company. 


As a result of the purchase of the Transferred Shares, Mr. Lexier, through
Lanark, now owns or has control over 750,000 common shares in the Company
representing 11.65% of the issued and outstanding common shares of the Company,
and Mr. Doyle owns or has control over 750,000 common shares in the Company
representing 11.65% of the issued and outstanding common shares of the Company.
The common shares of the Company are listed on the TSX Venture Exchange (the
"Exchange"), and the Exchange has conditionally accepted the aforementioned
transfer. Lanark has filed a report under National Instrument 62-103 - The Early
Warning System and Related Take-Over Bid and Insider Reporting Issuers. 


The Company has granted incentive stock options to Mr. Lexier to purchase up to
26,666 common shares of the Company at a price of $0.10 per share, exercisable
for a period of ten years. The options were granted pursuant to the terms of the
Company's stock option plan. Mr. Doyle and Mr. Hugh Cartwright, a director of
the Company, agreed to cancel certain of their stock options and as a result,
options to acquire up to 26,666 common shares were returned to the option pool.
Following the option cancellation and option grant, the Company has 200,000
stock options outstanding. 


The Company is a capital pool company under the policies of the Exchange.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Maple Leaf Resource Corp.
Jonathan Lexier
[phone]