Creditor Debt

Alpharetta, GA: (Feb-26-08) In a recent announcement made by Joseph Canouse, the CEO of Trophy Resources, an independent natural resource company with the goal of controlling lease hold acreage and mineral rights, stated that the company has entered into a debt settlement with its current creditors for equity that allows the company to reduce its outstanding debt by nearly $600,000. As a result of the settlement, Trophy will be able to settle its debt with the creditors for equity with releases coming as the equity price improves, halting the downward spiral nature that had previously characterized the settlement. The outstanding debts were incurred prior to Trophy entering into the energy industry and subject to previous legal settlements. The company's oil interests are in the Fort Worth Basin in central TX, Williston Basin, MT, and the Wind River Basin, WY. Following the deal, Trophy expects to acquire advanced stage projects and producing mines in some of the most prolific precious metal districts in the world. The company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases. [MARKET WIRE: DEBT SETTLEMENT]

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Published on Feb-27-08