Pacific Topaz Resources Ltd. - News Release


VANCOUVER, April 26 /CNW/ - Pacific Topaz Resources Ltd. (TSX-V: PPZ) (the "Company" or "Pacific Topaz") announces that it has filed its first quarter financial statements ended February 28, 2011 on SEDAR and confirms that as of April 26, 2011, the Company has paid the outstanding liabilities. All of the previously announced private placements have either been closed by the Company or the Company will not be proceeding with any further amounts of previously disclosed private placements.

Pacific Topaz also announces that Radcliffe Foundation (a charitable organization controlled by Frank Giustra) has acquired 1,833,334 common shares of Pacific Topaz in a private transaction representing approximately 2.72% of the issued and outstanding common shares of Pacific Topaz (the "Acquisition").

As a result of the Acquisition described above, Frank Giustra, Radcliffe Foundation and Fiore Arts and Collectibles Ltd. (a corporation owned and controlled by Frank Giustra) ("the Offerors") hold in aggregate 8,500,000 common shares of Pacific Topaz representing 12.60% of the issued and outstanding shares of Pacific Topaz.

The Offerors acquired the securities for investment purposes and have no present intention to acquire further securities of Pacific Topaz, although the Offerors may in the future acquire or dispose of securities of Pacific Topaz, through the market, privately or otherwise as circumstance or market conditions warrant.


"Gordon Keep"

Gordon Keep
Chief Financial Officer and Corporate Secretary

Neither the 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.

For further information:

Gordon Keep
Tel:  (604) 609-6110

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Pacific Topaz Resources

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