Mr. Alex Bugden reports

SORRENTO RESOURCES ANNOUNCES UNSECURED LOANS

Sorrento Resources Ltd. has entered into loan agreements with lenders documenting certain advances previously made to the company earlier this year of a total of $175,000. The loans bear no interest and are unsecured. The maturity date of the loans will be the date that the company completes an equity financing generating gross proceeds of not less than $350,000.

Subject to the approval of the Canadian Securities Exchange, the company will issue share purchase warrants to each lender as inducement for the loans. Each lender will receive such number of bonus warrants as is equal to the amount advanced by such lender divided by the price at which shares or units of the future financing are issued.

Each loan bonus warrant will entitle the holder to purchase one common share of the company at an exercise price equivalent to the price of the future financing for a term equivalent to any warrants issued in such future financing.

As one of the lenders, being Canal Front Investments Inc., a entity owned and controlled by Blair Naughty, is the holder of over 10 per cent of the company's issued shares, that portion of the loans and issuance of the bonus warrants related thereto, being an aggregate of $125,000, is considered to be a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (MI 61-101). The company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101.

About Sorrento Resources Ltd.

Sorrento Resources is engaged in acquisition, exploration and development of mineral property assets in Canada. The company's objective is to locate and develop economic precious- and base-metal properties of merit, including the Wing Pond, Tom Joe, Lord Baron projects, the PEG lithium project, and the Harmsworth (volcanogenic massive sulphide) project, all located in Newfoundland.

We seek Safe Harbor.