ADB Admiral Bay Resources Inc.

Admiral Bay Resources Inc. (TSX VENTURE:ADB) 

Admiral Bay Resources Inc. (TSX VENTURE:ADB) ("Admiral Bay" or the "Company")
announces that the Company along with its partner Bluebird Energy are plugging
the wells at the Revloc Project and have decided not to renew the leases
representing 12,381.81 net acres. This reduces the net acreage to the Company of
3,691.846 net acres for coal or coal bed methane and 300.0 net acres of oil and
gas leases. The abandonment is due to adverse gas market conditions, uncertainty
of State and Federal regulations concerning fracking, increase in overall
regulatory costs and eliminates $120,000.00 (US) gross yearly rentals to the
partners. The Company feels that the present project is uneconomic. The
remaining acreage is being placed with a broker to be put up for sale or
farm-out.


Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging unconventional
gas production company focused on the development of projects in the Cherokee
Basin in southeast Kansas and the Appalachian Basin in Pennsylvania. Admiral Bay
is listed on the TSX Venture Exchange under the symbol ADB.


Statements in this release that are not historical facts are "forward-looking
statements" within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Readers are cautioned that any such statements are not guarantees
of future performance and that actual developments or results may vary
materially from those in these "forward-looking statements".

Grafico Azioni Admiral Bay Resources Inc. (TSXV:ADB)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Admiral Bay Resources Inc. (TSXV:ADB)
Storico
Da Lug 2023 a Lug 2024