Precision Closes $765,270 Equity Financing

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Precision Enterprises Inc. (TSX VENTURE:PSC.H) (the "Company") announces that on
May 12, 2011, the Company received acceptance from the TSX Venture Exchange to a
private placement financing for gross proceeds of $765,270. At the request of
the TSX Venture Exchange, in order to comply with both NEX and CPC Policies the
financing was reduced from $900,000 (as disclosed in the Company's April 21,
2011 News Releases) to $765,270, and was further amended by excluding warrants
that were to be issued in connection with the financing.


Accordingly, and in accordance with the provisions of the Subscription
Agreements and Amending Agreements received, on May 13, 2011 the Company issued
a total of 5,101,800 common shares at $0.15 per share, which shares will be
subject to a hold period under applicable Canadian securities laws expiring on
September 14, 2011, and will be subject to such further restrictions on resale
as may apply under applicable foreign securities laws.


In connection with the financing, the Company will pay a total of $69,350 cash
as finders' fees.


ON BEHALF OF THE BOARD

Joe DeVries, President and CEO

Allante Resources Ltd. (TSXV:PSC.H)
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