2009-08-11-2007-12-01-2007-12-01

Acquired 100% WI in 96 sections (61,440 net acres) by completing Princess farm-in agreement.

Gentry Resources Ltd., Calgary, (Toronto: GNY) has acquired 100% interest in 96 sections (61,440 net acres) of Alberta land by completing the earning phase of its Princess farm-in agreement from an undisclosed seller for an undisclosed price. Gentry earned the interest in 47% of the lands under a May 2006 exploratory farm-in agreement encompassing 203 sections (130,029 acres). The sections were earned through a commitment to drill 13 wells, a minimum of one on each of seven townships, and six others within any township defined in the agreement. Based on 3-D seismic included in the farm-in and more than 224 square miles, Gentry drilled 18 exploratory wells, of which 16 earned rights in the target Mississippian formation and two earned additional rights in the Nisku formation. Each six-section block has a seven-year initial lease term subject to overriding royalties. Gentry will continue to drill-to-earn on any undrilled six-section block on the freehold farm-in lands. Gentry is able to earn a 100% working interest in the remaining 53% of land under the exploratory farm-in through August 2009.