Sharpe Closes on the First Acquisition of a Permitted and Bonded Coal Mine Property in Eastern Kentucky

SHARPE RESOURCES CORPORATION: (NEX:SHO.H)(OTCBB:SHGPF) Sharpe has closed on the
purchase agreements to acquire a 40% interest in the first coal mine property in
Eastern Kentucky. The terms of the transaction include a $250,000 in cash and
specific investments in regard to accelerating the development of this property.
The Lawrence County, Kentucky property is permitted and bonded and is in a
position to commence production immediately. Currently, strip mining equipment
is being moved onto the property. This mine has been in production previously
for a short period under different ownership at a production rate of nearly
20,000 tons per month. Due to poor management and buyer seller disagreements the
mine was forced into Chapter 7 bankruptcy in early 2007. The current (new)
management and support staff is in place to get this project into production as
early as this month, April, 2008. We are planning to sell our first coal
production before the end of the April, 2008.


Sharpe is working aggressively to get the second production project located in
Eastern Kentucky closed in a few days. The purchase option agreement has been
reviewed by Chapter 11 bankruptcy creditors and is believed to be on track to
get an agreement whereby the previous creditors will be repaid 100 percent in
exchange for supporting our production and development plan for this property.
When the agreement is completed we should be in a position to move forward with
the acquisition closing.


Sharpe's objective is to get involved in this market with a near term
acquisitions as a means to participate in this very attractive Eastern United
States coal market. The objective is to get involved in projects that have the
potential to grow into a 40,000 to 50,000 ton per month production level over
the next 12 months. Coal prices for low sulfur, high btu steam coal reportedly
from some of the operators to be in the range of $70 to more than $85 per ton
fob mine. Metallurgical coal captures a large premium price to the steam coal
prices.


According to Roland M. Larsen, CEO, now is the time to get involved in the coal
business in this region. Sharpe currently owns the coal mineral rights to more
than 17,000 acres of coal lands in West Virginia.


Sharpe Resources Corporation cautions that the statements made in this press
release and other forward looking statements made on behalf of the Company may
be affected by such other factors including, but not limited to market
volatility, competition, and other risks detailed herein and from time to time
in the Securities and Exchange Commission filings of the Company.


C.U.S.I.P # 82001L100

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