ROK Resources Ends Arrangement Agreement

ROK Resources Inc. has terminated its previously announced arrangement with 17312539 Canada Inc., a subsidiary of Blue Alaska Oil Trading LLC, and 102220885 Saskatchewan Ltd. The arrangement included a go-private transaction where 17312539 Canada would acquire all ROK shares, and 102220885 Saskatchewan Ltd. would obtain shares of EMP Metals Corp. from ROK.

On March 2, Blue Alaska and 17312539 Canada notified ROK of their unilateral decision to terminate the agreement, claiming entitlement to a $3.0 million deposit despite a prior agreement suggesting otherwise. ROK plans to pursue legal action to recover the deposit.

Following the termination, ROK possesses an estimated $5.0 million in cash and working capital. The company is producing about 3,100 barrels of oil equivalent per day, with an additional 250 boe/d temporarily shut-in. ROK's board will soon outline a new strategic direction in light of these developments.