Drift Lake Resources Announces Agreement with Petrodorado to Acquire 30% Interest in the 108,336 Acre Talora Block Located in the Prolific Magdalena Basins, Colombia

Drift Lake Resources Inc. (TSX-V: DLA) ("Drift Lake" or the "Company") announces today that Sintana Energy Inc. ("Sintana"), the Company's S.A. Operations Office located in Bogatá and existing under the laws of Colombia, has entered into an agreement with Petrodorado Energy Ltd. (TSX-V: PDQ) ("Petrodorado") to farm-in for an undivided 30% interest in the 108,336 acre Talora Block located in Colombia's oil prolific Magdalena Basin. The Talora Block, which is operated by Petrodorado, is immediately adjacent to the region's main oil and gas pipelines and only 60 kilometers west of the capital city of Bogotá.

The Talora Block straddles the boundary between the Upper and Middle Magdalena Basins and is flanked by "Middle Magdalena" oil fields to the north and "Upper Magdalena" oil fields to the south, both consisting of light and medium-gravity oil and totaling to more than 150 MMBO recoverable, all within about 25 kilometers of Talora.

The Guando Field, south of Talora, is one of the most important Upper Mag fields, contains 120 MMBO and is currently producing 20,000+ BOPD. This field, which was discovered by Petrobras and Nexen Inc. in 2000 (from the Lasmo prospect inventory acquired in 1998), is one of the most notable fields in Colombia due to the shallow position, the excellent Cretaceous Guadalupe reservoir, the good quality medium-gravity oil and its close proximity to infrastructure and the populated areas near Bogotá.

Just to the west of Guando lies the Abanico Field (12 MMBO) which was discovered by CMS/Nomeco in 1999. The initial field development was carried out by Cepsa until 2003 when Kappa Energy Holdings Ltd. purchased the property, followed by Pacific Rubiales Energy Corp. that bought Kappa Energy in 2008.

Two notable Middle Magdalena fields that lie immediately against Talora's northern block boundary are the Toqui-Toqui Field (4-7 MMBO) discovered in 1986 and the Puli Field (10-13 MMBO) that was discovered in 1991. The Talora area has an exploration history dating back to 1921 with the drilling of 2 shallow wells (drill depths of 1,200') by the Transcontinental Oil Company (subsequently bought by Marathon) who was drawn to the area by the presence of numerous active oil seeps. These first two wells were drilled far off structure over the master thrust fault which generates the "Guataqui Oil Seeps" rather than over the anticline itself. In summary a total of nine wells have been drilled in the area either off structure and/or on structures that are mainly located outside of the Talora Block and importantly, no well has yet reached the Cretaceous Caballos reservoir.

(Reference Note - All reserve estimates contained in this press release are from industry-published sources, including the Wood MacKenzie database)

The Verdal-1 well, operated by Petrodorado in 2010, was the first well to target the two main thrust anticlines located near the center of the block. The Verdal-1 despite having to stop drilling hundreds of feet above the main Caballos reservoir target due to well control problems resulted in a technical gas discovery in the upper gas-charged Cretaceous Tetuan Formation. The Verdal-1 well revealed some important new information about stratigraphy and the hydrocarbon content of the units in the area including that the main Cretaceous Caballos reservoir was deeper than originally thought. It also demonstrated the presence of an abundant overlying seal and that these structures are hydrocarbon-charged with trapping in place, all critical parameters that greatly reduce the technical risk of the next well.

Management believes that the Caballos reservoir is hydrocarbon-charged, has a trapping mechanism in place and therefore represents a prime exploration target for the two adjacent thrust anticlines, the Dorado Prospect, which is scheduled to be spud in the 4Q 2011, followed by a second Caballos well in 2012 possibly on the adjacent Verdal-La Cabaña Prospect, up-dip from the existing Verdal-1 well.

The Talora Block is considered by management to be one of the most prospective remaining contracts in Colombia from the 2004 vintage in which there is no X-Factor, no state oil company back-in and use of the sliding scale royalty regime of 8% of production up to 5,000 barrels a day increasing to 8-20% for production from 5,001-125,000 BOPD to a maximum of 25% over 600,000 BOPD. The Talora Block is located in an area of emerging interest, not only because of the nearby Guando-type discovery of 120 MMBO medium-gravity oil in 2000, but for the hidden and overlooked thrust anticlines which have not been drilled in the last decade. Sintana Energy is pursuing other major opportunities in the region to compliment the Talora farm-in. This transaction provides Sintana with a high-quality, high-potential, ready-to-drill opportunity and, if successful, will provide near-term production and positive cash flow as it is in close proximity to pipelines.

Additional information on the Companies projects can be found on the Company's website at www.driftlakeresources.com/operations/overview.php

Consideration for the acquisition is: (i) a cash payment to be made in the aggregate amount of US$5,200,000; (ii) assumption of 60% of the drilling costs of the first exploratory well, estimated to equal US$3,900,000 net to Drift Lake and (iii) if a second exploratory well is drilled on the block, the assumption of 45% of the drilling costs for that well, estimated to equal US$2,925,000 net. The transaction remains subject to the completion of a Farm-Out Agreement between Sintana and Petrodorado and receipt of all applicable approvals, including those of the regulatory authorities in Colombia and the TSX Venture Exchange.

Doug Manner, CEO of Drift Lake, stated, "Acquiring an interest in the Talora Block is the initial step in executing our exploration strategy in South America, with a specific focus on Colombia. The Talora Block provides large structures that appear to have four-way closure and are on trend with numerous productive fields in the basin. This opportunity is consistent with our intent to explore for, develop and produce superior quality assets with significant reserve potential. As demonstrated by this transaction, Sintana is pursuing near term drilling opportunities, early stage production and positive cash flow. Business development activities aimed at acquiring interests in similar high impact opportunities are ongoing."

"Talora is a good example of the advantage that Sintana gained when our South America Manager and Exploration VP, Phil de Gruyter, joined the Company. His extensive experience and impressive track record in South America with Talisman as Exploration Manager, and with Maxus Energy-YPF-Repsol and Hocol-Tenneco-Shell has greatly enhanced our ability to access and evaluate quality opportunities in our areas of interest."


Drift Lake/Sintana is primarily engaged in petroleum and natural gas exploration and development activities in Colombia, Peru and Paraguay. The Company's exploration strategy is to acquire, explore, develop and produce superior quality assets with significant reserve potential. Drift Lake/Sintana currently holds a 25% working interest in 175,000 acres in the Bayovar Block XXVII in the Sechura Basin, Peru and is evaluating a portfolio of other exploration opportunities in South America.

On behalf of Drift Lake Resources Inc.

"Doug Manner"
President and CEO

For further information please visit our website at www.driftlakeresources.com or email us at info@driftlakeresources.com

Corporate Contact:

Drift Lake Resources Corp.
Douglas Manner
Chief Executive Officer
Tel: 832.279.4913

Operations Contact:

Sintana Energy Inc.
Phil de Gruyter
S.A. Manager and Exploration VP
Tel: 011.571.214.8365

Forward-Looking Statement

This news release includes forward-looking statements related to the expected occurrences in relation to the properties identified. A multitude of factors can cause actual events to differ significantly from any anticipated development and although Drift Lake believes that the expectations represented by such forward- looking statements are reasonable; there can be no assurance that such expectations will be realized. These forward looking statements are based upon assumptions that Drift Lake has made concerning the oil and gas industry in Colombia, the reliability of available data regarding the properties, and the continuing market for oil and gas. Risk factors which may cause actual results to differ from those anticipated in such forward looking statements include the uncertainty of conducting operations under a foreign regime, the uncertainty of obtaining all applicable regulatory approvals and executing a definitive agreement in respect of the Company's proposed acquisition of the Talora block, t'he availability of labour and equipment, the fluctuating price of oil and gas, the availability of financing, and Drift Lake's dependence upon other participants in the property areas. Neither Drift Lake nor any of its subsidiaries nor any of its officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors, nor do any of the foregoing accept any responsibility for the future accuracy of the opinions expressed in this document or the actual occurrence of the forecasted developments.

Although the Company believes that the expectations represented by the forward-looking statements contained herein are reasonable, undue reliance should not be placed on the forward-looking statements because there can be no assurance that such expectations will be realized. The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This press release does not constitute an offer to sell or a solicitation to buy any of the securities of Drift Lake Resources in the United States.

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