Peat Resources Limited announced that it has signed a binding letter of intent pursuant to which the company will acquire all of the issued and outstanding shares of Belair African Metals SARL from Belair Maniema Corp. (the "Vendor") in consideration of the issuance of 15,000,000 common shares of the Company to the Vendor. Effective December 12, 2017, Peter Hooper and Lance Hooper have been appointed directors of the Company, joining the current board of directors consisting of Patricia Mannard, Michael Cachia, and Samuel Peralta. Peter was the driving force behind a two million ounce gold discovery in NE DRC and has recently served as the Executive Chairman of Belair African Metals, with operations in Katanga and Maniema provinces. Hooper recent work in the DRC includes Kilo Goldmines, a two million ounce gold discovery in the Oriental Province, and as CEO of Belair African Metals.