Peat Resources in Newfoundland

Peat Resources Limited (TSX VENTURE:PET) is pleased to advise that the company
has secured new exploration rights for 36,075 hectares of peatlands in central
and western Newfoundland. Twelve exploration licences were awarded by the
Newfoundland Department of natural Resources for exploration and evaluation of
prospective peatlands in the Botwood (central NL) and Stephenville-St. Georges
(western NL) regions. Botwood, Stephenville and St. Georges all have port
facilities suitable for international shipping.


Peat Resources Limited has been actively exploring and evaluating promising peat
resources and peat fuel markets in Newfoundland since 2007 and has built and
operated a wholly owned pilot production facility for peat fuel pellets in
Stephenville. Bulk samples of the peat fuel pellets have been assessed at a
number of locations in Canada and the U.S., including Ottawa's CANMET
Laboratory. Shipments have been made to the Netherlands, South Africa and China
for testing and marketing purposes. This previous work has confirmed the quality
of Newfoundland's peat as a sustainable source of biomass fuel. The area now
under licence is estimated to contain peat tonnages adequate to service large
long-term (+20 year) contracts. This will be confirmed by detailed resource
evaluation of the new exploration properties planned for 2014.


Peat Resources Limited was formed to explore, develop and produce peat fuel - a
sustainable bioenergy resource. The company is active in Ontario and
Newfoundland. The company has developed an environmentally acceptable harvesting
and processing system to supply consistent quality peat fuel in long-term (+ 20
year) contracts to utilities and other industrial operations for heat and power
generation. The Company is also investigating development of value-added
biocarbon derivatives from peat pellets such as activated carbon for which there
is growing demand in many industrial and domestic applications.


Forward-Looking Information

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 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 statements. There are
certain factors that could cause actual results to differ materially from those
in forward-looking statements. These 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 actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, investors
should review registered filings at www.sedar.com.


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: 
Peat Resources Limited
Peter Telford
[phone]
[phone] (FAX)
[e-mail]
www.peatresources.com