Piper Resources Ltd. Announces Third Quarter Results and Change to Board of Directors



    CALGARY, Nov. 30 /CNW/ - Piper Resources Ltd. (formerly 2937077 Canada
Inc.) ("Piper" or the "Company") is pleased to announce its financial and
operating results for the three and nine months ended September 30, 2007. All
amounts stated herein are denominated in Canadian dollars, unless otherwise
stated.

    
    Financial

                                        Three Months Ended  Nine Months Ended
                                           September 30,       September 30,
                                          2007      2006      2007      2006
    -------------------------------------------------------------------------
    ($thousands, except per share
     amounts)

    Revenue                              1,132       919     1,132     2,776

    Net loss                             1,977     3,720     3,022    11,437

    Net loss per share - basic and
     diluted                              0.14      0.07      0.24      0.24

    As at the date above:

      Working capital surplus
       (deficit)                        (1,556)    5,278    (1,556)    5,278

      Convertible debenture              5,850       667     5,850       667

      Debt (net of unamortized fees)    43,727         -    43,727         -

      Farm-in obligation                12,339         -    12,339         -

      Shareholders' equity              10,445     8,486    10,445     8,486

      Total assets                      78,146    13,467    78,146    13,467
    -------------------------------------------------------------------------
    

    Piper announces that Mr. Alan Ross, a director of the Company since
November, 2006, has resigned from the Company's board of directors. The
Company sincerely thanks Mr. Ross for his contributions and wishes him
continued success in his other endeavors.
    The Company's complete unaudited interim financial statements and
management's discussion and analysis for the three and nine months ended
September 30, 2007 can be viewed on SEDAR at www.sedar.com or can be obtained
by contacting the Company representative below.





For further information:

For further information: Piper Resources Ltd., Greg Cave, President,
Tel: (403) 718-2301

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PIPER RESOURCES LTD.

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