Plate Resources Inc. announces letter of intent with 1713425 Alberta Ltd. and appointment of new director

600-666 Burrard Street Vancouver, B.C. V6P 3P6 Phone: 604-642-6175

News Release

Plate Resources Inc. announces letter of intent with 1713425 Alberta Ltd. and appointment of new director

January 6, 2014 – Vancouver, British Columbia. Plate Resources Inc. (the "Company") (TSXV- "PLR") announces that it has entered into a preliminary letter of intent with 1713425 Alberta Ltd. ("ABco") under which it has agreed, subject to certain conditions precedent including completing final due diligence and entering into a definitive assignment agreement, to take an assignment of ABco's exclusive right to farm-in for a 50% interest in Section 30-046-01 W5M-PNG in Cardium, Alberta (the "Farmout Lands"), by paying 50% of all costs on the Farmout Lands. The 50% interest is subject to a gross over-riding royalty of 5.5% (net 2.75%) to Mosaic Energy Inc. and Lightstream Resources Partnership. ABco has secured the farm-in right under a Participation Agreement with Calgary based Scollard Energy Inc. ("SEI") which will be the designated operator.

Under the terms of a letter of intent dated December 31, 2013 (the "LOI"), the Company may assume ABco's rights under the Participation Agreement in consideration of making the following cash payments and share issuances to ABco:

(a) paying ABco an aggregate of $150,000 as follows:

(i) $30,000 on execution of the LOI (completed) as a refundable deposit secured by a Promissory Note and General Security Agreement;

(ii) $50,000 on receipt of TSX Venture Exchange acceptance to the definitive agreement;

(iii) $70,000 on spudding of the first well on the Farmout Lands: and

(b) issuing ABco in stages an aggregate of up to 4 million escrow shares as follows:

(i) 1 million shares on spudding of the first well on the Farmout Lands;

(ii) 1 million shares on the Company's net production on the Farmout Lands reaching at least 100 barrels of oil per day for a period of 30 consecutive days;

(iii) 1 million shares on spudding of the second well on the Farmout Lands; and

(iv) 1 million shares on spudding of the third well on the Farmout Lands.

In conjunction with this transaction and to fund ongoing working capital and work on the Company's mineral exploration projects, the Company intends to complete a non brokered private placement of up to 6,000,000 shares at a price of $0.15 per share for total proceeds of up to $900,000. The Company will pay finder's fees or commissions of up to 8% on certain subscriptions.

Finally, the Company announces that Ms. Vivian Katsuris has joined the Company's Board of Directors and been appointed Corporate Secretary after 10 years as an Investment Advisor at Global Securities

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Corporation. Her 20+ years of experience in the brokerage industry, the North American capital markets and public financings will be an asset to the Company. The Board of Directors welcomes Ms. Katsuris and wishes her success at her new positions. Mr. Jerry Minni has resigned as a Director and as Secretary but remains as the Company's Chief Financial Officer.

The Company is a junior resource exploration company focused on acquiring mineral and oil and gas properties and exploring for economically viable mineral and petroleum resources. The Company's existing mineral property is located in the Nicola Mining District of south Central British Columbia. For more information, please refer to the Company's prospectus dated March 21, 2013 available on SEDER (www.sedar.com).

ON BEHALF OF THE BOARD OF DIRECTORS

"Charalambos (Harry) Katevatis"

Charalambos (Harry) Katevatis

President & Chief Executive Officer

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

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

All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.