Piper Resources Ltd. Obtains Adjournment of Court Date and Extension to CCAA Protection

    CALGARY, July 15 /CNW/ - As previously stated in the press release dated
February 17, 2008, Piper Resources Ltd. ("Piper" or the "Company") was granted
protection under the Companies Creditors' Arrangement Act (Canada) ("CCAA") on
that date by an Initial Order from the Alberta Court of Queen's Bench (the
"Court") which stayed its creditors from enforcing their rights until
March 17, 2008 and such protection was extended by subsequent court orders on
March 17, 2008, April 28, 2008 and June 12, 2008. The June 12, 2008 court
order extended the protection to July 15, 2008.
    On July 15, 2008 Piper requested, and was granted, an adjournment of the
July 15, 2008 court proceedings until July 22, 2008 which extended its stay
under CCAA protection until that date.
    While under CCAA protection, the Board of Directors maintains its usual
role and management of the Company remains responsible for the day to day
operations. The materials filed to date in the CCAA proceedings are available
on the Monitor's website of www.deloitte.ca under the Insolvency and
Restructuring link (the "Website") or by contacting the Monitor directly at
(403) 298-5999 or by email at piper@deloitte.ca.

    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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