SHGP Sharpe Resource Corp (CE)

SHARPE RESOUCES CORPORATION (OTCBB: SHGP) today announces that it is applying for up to 10 drilling permits, initially, to test the coal bed methane (CBM) potential of more then 17,000 acres, 100% owned property in Preston County, West Virginia. There is current CBM and conventional gas production on this structural trend in West Virginia and nearby Pennsylvania.

The Company is expected to raise capital to fund the initial drill testing program and to acquire proximal gas production within this project area as a means to "kick-start" the near term production profile for this regional natural gas program.

The current market trends for this region indicate that these projects have the potential to be profitable operations under the current gas market prevalent in the Central Appalachian region at this time.

For further information, contact Roland Larsen, President, #804-580-8107 and/or Rich Kaiser, Investor Relations, #800-631-8127; www.sharperesourcescorporation.com

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.

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Contact: Roland Larsen 804-580-8107