Piper Resources Ltd. Issues Default Status Report



    CALGARY, June 16 /CNW/ - Piper Resources Ltd. ("Piper" or the "Company")
reports that further to the Company's Notice of Default contained in the news
release on May 21, 2008 and the Company's Default Status Report contained in
the news release dated May 29, 2008, the following is the Company's bi-weekly
default status report pursuant to Appendix B of the Canadian Securities
Administrators Staff Notice 57-301:

    
    1.  Except as included in the Default Status Report contained in the news
        release dated May 29, 2008 with respect to the Company's inability to
        file its Interim Financial Statements for the three months ended
        March 31, 2008 ("Interim Statements"), there has been no material
        change in the information contained in the Notice of default.

    2.  There has been no change to any intentions outlined in the Notice of
        Default or previous Default Status Report.

    3.  As discussed above, the Company will not be able to file the Interim
        Statements by the required deadline of May 30, 2008 as it must first
        complete the Annual Audited Financial Statements for the year ended
        December 31, 2007.

    4.  As disclosed in the Notice of Default contained in a news release
        dated May 21, 2008, the Company was granted protection from its
        creditors under the Companies Creditors' Arrangement Act ('CCAA")
        until June 12, 2008. As reported in a news release dated
        June 13, 2008, the CCAA protection was extended to July 15, 2008.
        Except for the extension of the stay of CCAA protection as disclosed
        herein, there is no other material information concerning the affairs
        of Piper that has not been generally disclosed.
    

    Certain information regarding the Company contained herein may constitute
forward-looking statements. These statements relate to future events or future
performance of the Company. When used in this release, the words "may",
"would", "could", "will", "intend", "plan", "anticipate", believe",
"estimate", "predict", "seek", "propose", "expect", "potential", "continue",
and similar expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks, uncertainties, and other
factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements. Such statements reflect
the Company's current view with respect to certain events, and are subject to
certain risks, uncertainties and assumptions. Many factors could cause the
Company's actual results, performance, or achievements to vary from those
described in this presentation. Should one or more of these risks or
uncertainties materialize, or should assumptions underlying forward-looking
statements prove incorrect, actual results may vary materially from those
described in this release as intended, planned, anticipated, believed,
estimated, or expected.





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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