Bridge Resources Corp. Enters Into Definitive Agreement to Sell North Sea Assets

   Bridge Resources Corp. (TSX VENTURE: BUK) ("Bridge") is pleased to announce that effective February 15, 2011 it has executed a formal sale and purchase agreement (the "Sale Agreement") with Perenco UK Limited ("Perenco") for the sale of its wholly owned subsidiary Bridge North Sea Ltd. ("BNSL").

The primary asset in BNSL is the Durango Gas Condensate Field. An independent report by Senergy (GB) Ltd. dated September 30, 2010 indicated a large range of reserves and resources contingent on the level of further investment. Accordingly, Bridge and Perenco have agreed to a sale structure comprising a cash component and a deferred consideration component providing for Bridge to receive a share of future production income.

Pursuant to the terms of the Sale Agreement, Bridge has agreed to sell BNSL to Perenco for an initial cash consideration of GBP 5,500,000. In addition and on an ongoing basis, Bridge will be entitled to receive from Perenco 18% of any profits it generates from UK Petroleum Production Licence P.1061 that contains the Durango Field. This deferred consideration equates to a 25% net profits interest on a tax-adjusted basis. Bridge will also retain the revenues from the balance of back-out gas accrued to BNSL.

The cash component from the sale is for the credit of Bridge Energy Inc., a wholly-owned U.S. subsidiary of Bridge. The deferred consideration will be applied to reduction of debt.

Stellar Energy Advisors Limited ("Stellar") managed the BNSL sale process on behalf of Bridge.

The sale of BNSL marks a strategic shift in geographic focus to the development of existing oil and gas assets in the onshore Western Idaho Basin of the United States.

Closing of the transaction is subject to the receipt of necessary regulatory, bank and TSX Venture Exchange approvals.

Statements in this press release may contain forward-looking information including expectations of the results from divestitures or strategic alternatives, ongoing obligations with respect to UK Petroleum Production Licence Number P1061, expectations respecting the closing of the sale transaction, commerciality of any discovery, future operations, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. While management believes that the expectations and assumptions underlying such forward-looking information are accurate, the reader is cautioned that the expectations and assumptions used in the preparation of such information may prove to be incorrect. Assumptions contained in such forward-looking information include, but are not limited to, the assumption respecting the percentage of profits Bridge will be entitled to from UK Petroleum Production Licence Number P1061 and assumptions respecting the closing of the sale transaction including the receipt of necessary regulatory and TSX Venture Exchange approvals. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bridge. These risks include, but are not limited to: general risks associated with the oil and gas industry and the exploration, development and production of oil and natural gas; risks associated with changes in commodity prices and exchange rates; there can be no certainty that any profits will be generated from UK Petroleum Production Licence Number P106; there can be no certainty the regulatory, bank and TSX Venture Exchange approvals will be obtained in the time anticipated by Bridge or at all; and there can be no certainty that the sale transaction will close in the timelines currently anticipated by Bridge or at all . Industry related risks could include, but are not limited to, operational risks in development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

Neither 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.

Contacts: Bridge Resources Corp. Edward Davies 303-831-9022 [e-mail] www.bridgeresourcescorp.com