Peat Resources Limited Completes $750,000 Brokered Private Placement

Peat Resources Limited

400 – 365 Bay Street

Toronto, Ontario

M5H 2V1 Canada

Tel: 416-862-7885

NEWS RELEASE

Peat Resources Limited Completes $750,000 Brokered Private Placement

TORONTO, ONTARIO ( January 10, 2018) - Peat Resources Limited (the " Company")

(TSXV: PET), is pleased to announce it has closed its previously announced brokered private

placement led by IBK Capital Corp . through the issuance of 15,000,000 common shares (the

“Common Shares”) at a price of $0.05 per Common Share for gross proc eeds of $750,000 (the

“Offering”).

In connection with the completion of the Offering, a cash commission equal to 9% of the amount

raised was paid and broker warrants equal to 10% of the number of Common Shares were issued

pursuant to the Off ering. Each broker w arrant is exercisable into one Common S hare at a price

of $0.05 per common share for a period of five years from the date of issuance.

The securities to be issued in connection with the Offering are subject to a statutory four -month

hold period from the date of issuance. The closing of the Offering remains subject to completion

of formal documentation and receipt of regulatory approvals, including the approval of the TSX

Venture Exchange.

For additional information, please contact:

Peat Resources Limited

Patricia Mannard

Telephone: (416) 862-7885

Email: [email protected]

Website: www.peatresources.net

IBK Capital Corp.

Michael White, President & CEO

Telephone: (416) 360-4511

Email: [email protected]

Forward-Looking Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of

historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the

Company expects are forward -looking statements. Although th e Company believes the expectations expressed in such statements are based on

reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may diffe r materially from

those in the statements. There are certain factors that could cause actual results to differ materially from those in forward -looking statements.

These include market prices, exploitation and exploration successes, continued availability of capital and financing, and gen eral economic,

market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actua l results or

developments may differ materially from those projected in the forward -looking statements. For more information on the Company, investors

should review registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture Exchange)

accept responsibility for the adequacy or accuracy of this release.