Mira Resources Corp. says that the Board of Directors has decided to develop the Tom Shot Bank Field (the "TSB Field") and take the field into oil production. Mira owns a 48% interest in the TSB Field. The Board of Directors has also decided that neither Mira nor its assets are for sale and that the process commenced with First Energy Capital to investigate strategic alternatives has been halted.

CEO and Director, Johnathan More, states: "We are very pleased to commence the immediate development of the TSB Field to production. Mira has a fantastic asset with over 22 MMBO in independently verified 2P Resources and additional resource upside potential. We are excited to continue working with our Nigerian partners, Associated Oil and Gas Services Limited and Dansaki Petroleum Limited, on a great opportunity to develop the Tom Shot Bank Field and to achieve initial production and cash flow in the near term."

Tags: Mira Resources Corp.