ARK Arras Minerals Corp

Archer Petroleum Corp (TSX VENTURE:ARK)(OTCQX:APEUF)(DBFrankfurt:A6VA) ("Archer"
or the "Company") is pleased to announce its entry into a non-binding letter of
intent with Imperial Petroleum Inc. and its subsidiaries, Arrakis Oil Recovery,
LLC and Phoenix Metals, Inc. (dba Imperial Chemical Company) for the proposed
acquisition by Archer of a 25% interest in the Peak Project and of certain
exclusive international production and sales rights for Sandklene 950, a product
used in the production of bitumen from tar sands. The right to produce and sell
Sandklene 950 in the United States and to certain existing clients, customers
and affiliates of Imperial Chemical Company internationally are excluded from
the rights to be granted to Archer. 


The Peak Project, located in Logan county, Kentucky, totaling approximately 270
acres, is comprised of certain lands included in mining permit application
Number 071-9702 which are subject to a joint venture between Arrakis Oil
Recovery, and Peak Concepts, LLC. 


In consideration for the acquisition of the 25% interest in the Peak Project and
granting of the specified rights to produce and sell Sandklene 950, Archer has
agreed to pay Imperial Petroleum Inc. $800,000, reserve a $1.00 per gallon
royalty to Imperial Petroleum Inc. on any international sales of Sandklene 950
made by Archer and to issue 300,000 common shares of Archer to Imperial
Petroleum Inc. The shares issued to Imperial Petroleum Inc. will be subject to a
statutory hold period expiring four months and one day after the issuance of the
shares. The interests in the Peak Project and rights to Sandklene 950 which are
to be acquired by Archer are subject to certain pre-existing third party
royalties and interests.


Closing of the proposed transaction is subject to a number of conditions,
including the parties completing their respective due diligence, a definitive
agreement being entered into and approval of the TSX Venture Exchange. The
letter of intent may be terminated at any time by any party providing written
notice to the other parties. Unless otherwise agreed to by the parties, the
letter of intent will automatically terminate in the event that: (i) a
definitive agreement has not been executed on or before May 6, 2013; (ii) the
parties' due diligence has been completed on or before May 6, 2013; (iii) the
TSX Venture Exchange has approved the transaction on or before June 7, 2013; or
(iv) any conditions to closing have not been satisfied, released or waived by
the closing date on or before June 7, 2013.


About Archer Petroleum:

Archer Petroleum Corp. is an independent energy company focused on exploration
and development in North America. The Company's shares are listed on the TSX
Venture Exchange under the symbol "ARK" and the DB Frankfurt exchange under
"A6VA". Further information on Archer can be found on the company's website at
www.archerpetroleum.com.


ON BEHALF OF ARCHER PETROLEUM CORP.

Colin Bowkett, Director

Disclaimers

This news release is not an offer of securities of the Company for sale in the
United States. The above described issuances of securities of the Company have
not been and will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration
or an applicable exemption from registration. This news release shall not
constitute an offer to sell or solicitation of an offer to buy nor shall there
by any sale of the above described securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.


Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" occur.
Forward-looking information in this press release includes, but is not limited
to, statements regarding expectations of management regarding the acquisition of
an interest in the Peak Project and the acquisition of certain exclusive
international production and sales rights to Sandklene 950, the consideration
for the acquisition of an interest in the Peak Project and the granting of
specified rights to Sandklene 950, the expiry of the hold period for shares to
be issued as consideration, the entry into a definitive agreement and closing of
the transactions contemplated by the letter of intent. Although the Company
believes that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be
correct. Such forward-looking statements are subject to risks and uncertainties
that may cause actual results, performance or developments to differ materially
from those contained in the statements including, without limitation, the risks
that the parties may not enter into a definitive agreement, that the TSX Venture
Exchange may not approve the transaction and that the conditions to closing of
the transaction may not be satisfied. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Archer Petroleum Corp.
Colin Bowkett
(604) 683-7588
(604) 683-7589 (FAX)
info@archerpetroleum.com
www.archerpetroleum.com

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