CALGARY, ALBERTA--(Marketwire - Oct. 19, 2011) -

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Wilton Resources Inc. (TSX VENTURE:WIL.P) (the "Corporation") and its Chief Executive Officer, Richard Anderson, are pleased to announce that further to the press release dated October 13, 2011, the TSX Venture Exchange (the "TSX-V") has conditionally accepted the previously announced purchase and sale agreement, effective August 15, 2011 with Cascade Resources Inc. ("Cascade") for the purchase of a 75% non-operating interest in certain oil and gas properties of Cascade located in Monitor, Alberta (the "Transaction") and approved the filing today of the Corporation's filing statement dated October 19, 2011 (the "Filing Statement") relating to the Transaction. The Transaction is intended to constitute the Corporation's "qualifying transaction" under the applicable policies of the TSX-V. Subject to certain conditions, as more particularly described in the Filing Statement, closing of the Transaction is anticipated to occur on October 28, 2011. Shareholders of the Corporation and Cascade are encouraged to review the Filing Statement which is filed under the Corporation's SEDAR profile at [ www.sedar.com ].

It is currently anticipated that the Acquisition will be completed by October 28, 2011. Assuming the Exchange grants final acceptance of the Acquisition, it is anticipated that the common shares of the Corporation will be reinstated for trading on the Exchange shortly after the Exchange issues the final approval of the Acquisition.

Further information concerning the Corporation, Cascade and the Transaction are contained in the Filing Statement which is available for review under the Corporation's SEDAR profile at [ www.sedar.com ].

Cautionary Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Forward-looking information included in this press release includes statements with respect to closing of the Transaction. This press release also contains forward-looking information relating to the intention of the parties to, among other things, complete the Transaction. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material factors and assumptions include the parties to the agreements underlying the Transaction being able to obtain the necessary director, shareholder and regulatory approvals; TSX-V policies not changing; and completion of satisfactory due diligence. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the TSX-V, changes in tax laws, general economic and business conditions; and changes in the regulatory environment. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Contributing Sources

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