Exile Resources Announces the Appointment of Mr. Darren Moulds as Chief Financial Officer

TORONTO, Feb. 24 /CNW/ - Exile Resources Inc. (TSXV: ERI) ("Exile" or the "Company"), a junior oil and gas exploration and production company, announced today that it has appointed Mr. Darren Moulds as the Company's new Chief Financial Officer. Mr. Moulds replaces Mr. Graham Warren who has resigned from the management team and will be leaving the Company to pursue other opportunities.

Mr. Moulds has held previous management positions including Chief Financial Officer of Africa Oil Corp. and Financial Controller of Upstream Operations for Centurion Energy International Inc. (Dana Gas). Mr. Moulds holds a Bachelor of Commerce degree from the University of Saskatchewan and obtained his CPA designation with PricewaterhouseCoopers LLP.

"With more than 11 years spent in the oil and gas industry, Darren brings specific financial and tax experience to Exile," said Mr. Tony Henshaw, President and CEO of Exile. "His background and expertise will benefit the Company in our push towards first production."

"On behalf of the Board, I would like to express our appreciation for the many contributions Mr. Warren has made during his tenure as CFO, including his help in building Exile's many growth opportunities. We wish him all the best in his future endeavours."

Exile also wishes to announce that it has granted 3,720,000 incentive stock options to various officers, directors and consultants of the Company, subject to Board approval. The options will be exercisable at $0.19 and will expire February 24, 2016. The options will vest immediately subject to a four-month regulatory hold period. The grant of options remains subject to TSX Venture Exchange approval.

About Exile Resources Inc.

Exile Resources Inc. is engaged in the acquisition, exploration and development of crude oil and natural gas properties in existing and underdeveloped basins. The Company aims to identify and acquire interests in additional properties with a greater emphasis placed on exploration. Exile utilizes strategic partnership and joint ventures in order to fully realize the production potential of any asset it acquires. With significant experience and track record of success in international operations, the Company is pursuing additional opportunities that are early on in the exploration and development value chain. Please visit Exile Resources web site for further information: www.exileresources.com.

To receive news releases from Exile, please email hchristensenbrown@equicomgroup.com and mention "Exile Resources" in the subject line.

Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Exile Resources Inc. including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of estimates, currency fluctuations, independent actions of its joint venture partners, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Exile Resources Inc.

For further information:

Exile Resources Inc.     
Tony Henshaw, President & CEO   
Tel: (44) 20-7793-2592      
Exile Resources Inc.
Darren Moulds, CFO 
Tel: 1 (403) 441 1176
TMX Equicom
Heidi Christensen Brown, Investor Relations
Tel: 1 (403) 283-0407

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Exile Resources Inc.

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