Outlook Resources Applauds Manitoba's Proposed Kyoto Commitment Legislation

SELKIRK, MANITOBA, Apr 17 (MARKET WIRE) --
Outlook Resources Inc. (TSX VENTURE: OLR) ("Outlook" or "the Company")
today commented on proposed provincial legislation announced on April 11,
2008, whereby Manitoba would legislate reductions in greenhouse gas
emissions backed by a $145 million investment over four years to enable
the province to meet its Kyoto commitment by 2012. If passed, Outlook and
ultimately its Prairie Bio-Cube(R) customers, would qualify as recipients
of cash and/or Carbon tax credit incentives from the government's
programs for its carbon-neutral biomass fuel and diversion of wastes from
landfills, of approximately $2 million dollars annually commencing in
July, 2011(i).

President and CEO of Outlook, John Bottomley, commented "Premier Doer's
announcement is very encouraging to Manitobans, Canadians, North
Americans and our Company. Through the government's pledge of real
dollars to support corporations and agribusinesses converting to
alternative fuels and reducing emissions, Premier Doer has corroborated
Manitoba's goals by taking real and measurable steps forward toward a
cleaner environment and a prosperous green economy. The province is the
first in North America to propose such legislation categorically
supporting its Kyoto obligation. We are very proud to be based in
Manitoba."

Adding to voices supporting Premier Doer's proposal is noted
environmentalist David Suzuki, who said, "I congratulate Manitoba for
taking a leadership role on climate change. Not only will Manitoba's
efforts help reduce harmful emissions but it sets a positive example for
other provinces and territories to follow."

Outlook has entered into an agreement to acquire a 75% interest in
Prairie Bio Energy Inc. ("PBE") (please see news release dated January
28, 2008). PBE is the developer of an innovative, patent-pending
conversion process that creates a proprietary renewable fuel product
("Prairie Bio-Cubes(R)") out of a combination of agricultural, municipal
and industrial residues. These residues or wastes, which would otherwise
have ended up in landfills, are instead converted into a renewable energy
product that is essentially carbon-neutral. Surpassing the energy content
of Lignite coal on a Gigajoule per metric tonne basis, Prairie
Bio-Cubes(R) can deliver in excess of 17.44 Gigajoules of heat energy per
metric tonne without increasing carbon emissions. Outlook has signed an
agreement with the waste management giant BFI Canada Inc that will
provide Outlook and PBE with a constant supply of non-hazardous
processing residues for the production of the Company's Prairie
Bio-Cubes(R). (please see press release dated February 14, 2008).

Outlook is currently offering up to $6.7 million by way of a non-brokered
private placement offering of Units (please see news release dated March
25, 2008). Outlook will own 75% of PBE upon completion of the financing
and a payment of $744,000 to retire a consolidated debt on behalf of PBE.

(i) Calculated based on the proposed provincial "CO2 Emissions Tax on
Coal" of $10-per-tonne on carbon-dioxide-equivalent emissions offset by
108,000 tons of Prairie Bio-Cubes(R) being produced each year eliminating
the use of more than 108,000 tons of Lignite coal currently being
consumed in the province annually. One ton of Lignite coal emits the
carbon-dioxide-equivalent of 2 tons of CO2 when burned. Prairie
Bio-Cubes(R) are in fact considered "carbon neutral" due to the carbon
sequestered during the growth cycle of the biomass they are produced from.

About Outlook Resources Inc.

Outlook is focused on delivering cost effective alternative energy
solutions that will help to improve the quality of our environment. As
the cost of using fossil fuels continues to increase, the Company in
cooperation with Prairie Bio Energy Inc. and with the assistance of BFI
Canada plans to produce a unique renewable fuel product from
agricultural, industrial and municipal biomass residues. This renewable
fuel product, Prairie Bio-Cubes(R), is comparable to Lignite coal in form
and use (i.e. heat value and energy potential per pound or kilogram).
Prairie Bio-Cubes(R) are produced by a patent-pending densification
process that combines 50% agricultural residues with a mixture of paper,
cardboard and wood waste residues. These residues, if simply discarded
would otherwise be contributing to our increasing disposal and pollution
problems. By diverting these residues from the landfill and using them to
create a renewable, carbon-neutral energy product, Outlook has found a
unique way to help reduce our reliance on fossil fuel energy sources that
in turn reduces CO2 emissions.

Outlook has approximately 88.5 million shares issued and outstanding
listed on the TSX Venture Exchange under the symbol "OLR".

To find out more about Outlook Resources (TSX VENTURE: OLR), please visit
the website at www.outlookresources.com.

Should you wish to receive Company news via email, please email
sasha@chfir.com and specify "Outlook Resources" in the subject line.

Forward-Looking Statements

Except for statements of historical fact, all statements in this news
release - including, without limitation, statements regarding production
estimates and future plans and objectives of Outlook Resources as well as
statements about the proposed Arrangement with Prairie Bio Energy,
including the timing, implementation or completion of the Arrangement -
are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate; actual results and future events could differ materially
from those anticipated in such statements. Factors that could cause
actual results to differ materially from anticipated results include
risks and uncertainties such as: risks relating to estimates of
production and recoveries of receivables; risks relating to the
completion of the PBE Arrangement on its proposed terms, in the time
frame proposed or at all; production and operating cost assumptions;
development risks and costs; the risk of commodity price fluctuations;
political and regulatory risks; and other risks and uncertainties as
disclosed under the heading "Risk Factors" in Outlook Resources documents
filed from time-to-time with the TSX and other regulatory authorities.
Further, any forward-looking statement is made only as of a certain date
and the Company undertakes no obligation to update any forward-looking
statement or statements to reflect events or circumstances after the date
on which such statement is made or reflect the occurrence of
unanticipated events, except as may be required by applicable securities
laws. New factors emerge from time to time, and it is not possible for
management of the Company to predict all of these factors and to assess
in advance the impact of each such factor on the Company's business or
the extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statement.

TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.

Contacts:
Outlook Resources Inc.
John Bottomley
President & CEO
(204) 785-8410
Email: johnb@outlookresources.com
Website: www.outlookresources.com

CHF Investor Relations
Sasha Abrams
Associate Account Manager
(416) 868-1079 x 246
Email: sasha@chfir.com

CHF Investor Relations
Lindsay Carpenter
Account Manager
(416) 868-1079 x 239
Email: lindsay@chfir.com

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