Sterling provides results of annual meeting and grants stock options

(TSX-V: SLG.V)

CALGARY, May 28 /CNW/ - Sterling Resources Ltd. announces that the following matters were approved by the shareholders at the annual and special meeting held today.

Shareholders elected Messrs. Raj Agrawal, Robert Carter, Walter DeBoni, Stewart Gibson, Teck Soon Kong and Graeme Phipps as directors of the Corporation. Sterling is pleased to welcome Graeme Phipps to the Board of Directors. Mr. Phipps has more than 30 years' experience in the oil industry and has held numerous executive positions with both domestic and international corporations. He holds a Bachelor of Science (Honors) with distinction in both Geology and Geophysics and is a Professional Geophysicist with the Association of Professional Engineers, Geologists and Geophysicists of Alberta.

Shareholders approved an amendment of the Corporation's Stock Option Plan to increase by 3,000,000 the maximum number of common shares issuable under the plan such that the aggregate number of common shares reserved for issuance would then equal 10,000,000 common shares.

Subsequent to the shareholders' approval of the Stock Option Plan amendment, the Board of Directors made its annual stock option grants to officers, directors, employees and consultants of the Corporation and its subsidiary. Options were granted to acquire 2,260,000 common shares at an exercise price of $2.56 per share. The options are exercisable for a five-year term and vest over three years from the date of grant.

Sterling Resources Ltd. is an international oil and gas company headquartered in Calgary, Alberta.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.

Contacts

visit www.sterling-resources.com or contact: Stewart G. Gibson
Chief Executive Officer
Phone: 44-133082-6717
Mobile: 44-7768-042219
stewart@sterling-resources.co.uk
or Ian Hornby-Smith
Chief Financial Officer
Phone: (403) 215-9264
Fax: (403) 215-9279
ian@sterling-resources.com