Knol Resources Corp. Adopts New By-Laws and Releases First Quarter Results

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Knol Resources Corp. (the "Corporation") (TSX VENTURE:NOL) announced that its
board of directors has adopted replacement By-law No. 3 ("New By-laws"). The New
By-laws have been modernized as compared to the prior By-laws and reflect
changes to corporate law in Alberta, general technological advancements and
standard corporate practices. The New By-laws are more consolidated than the
prior By-laws ("By-laws") in that they do not restate many legislative
requirements, including, among others, provisions dealing with corporate
borrowing, proxy matters, the place and time of meetings and notice to
shareholders. Substantive differences between the Corporation's prior By-laws
and the New By-laws are highlighted below.


The New By-laws provide a 60 day prior advance notice provision for nominations
of directors in circumstances where nominations of persons for election to the
Board of Directors are made by Shareholders other than pursuant to a requisition
of a meeting made pursuant to the provisions of the Business Corporations Act
(Alberta) (the "ABCA") or a Shareholder proposal made pursuant to the provisions
of the ABCA (the "Advance Notice Provisions").


The purpose of the Advance Notice Provisions is to foster a variety of interests
of the Shareholders and the Corporation by ensuring that all Shareholders,
including those participating in a meeting by proxy rather than in person,
receive adequate notice of the nominations to be considered at a meeting and can
thereby exercise their voting rights in an informed manner. Additionally, the
Advance Notice Provisions provide a reasonable framework for Shareholders to
nominate directors and should assist in facilitating an orderly and efficient
meeting process.


The New By-laws support the Direct Registration System (DRS) for the
Corporation's securities (the "DRS Amendment"). DRS provides for electronic
direct registration of securities in an investor's name on the books for the
transfer agent or issuer, and allows shares to be transferred between a transfer
agent and broker electronically. DRS provides investors with an alternate
approach to holding their securities in certificate or "street" form. Under DRS,
investors can elect to have their securities registered directly on the issuer's
records in book-entry form. An investor electing to hold a security in a DRS
book-entry position will receive a statement from the issuer or its transfer
agent evidencing ownership of the security. The investor can subsequently
transfer electronically the DRS book-entry position to their bank or
broker/dealer. 


The New-Bylaws update the quorum requirements with respect to meetings of the
Shareholders. The prior By-laws provided that a quorum of Shareholders is
present at a meeting of Shareholders if a holder or holders of not less than 5%
of the shares entitled to vote at a meeting of Shareholders are present in
person or by proxy. The New-By-laws increase the quorum requirements by
providing that a quorum of Shareholders is present at a meeting of Shareholders
if two or more holders of not less than 5% of the shares entitled to vote at a
meeting of Shareholders are present in person or by proxy. 


The New By-laws are effective immediately and will be placed before shareholders
for ratification at the upcoming annual and special meeting of shareholders of
the Corporation (the "Meeting") on June 27, 2013. A copy of the New By-laws has
been filed under the Corporation's profile at www.sedar.com. 


The Corporation's unaudited condensed consolidated interim financial statements
and related MD&A for the three months ended March 31, 2013 may be found at
www.sedar.com and on the Corporation's website at www.knol-resources.com. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Knol Resources Corp.
Michael Atkinson
President & CEO
[phone]


Knol Resources Corp.
John Downes
Interim CFO
[phone]
www.knol-resources.com