Drift Lake Resources Inc. and Northbrook Energy LLC
Announce Proposed Business Combination

For Immediate Release

Not for distribution in the United States or to U.S. newswire services

November 9, 2010 (Toronto, Ontario): Drift Lake Resources Inc. ("Drift Lake") (TSXV:DLA) and Northbrook Energy, LLC ("Northbrook") are pleased to announce that they have entered into a non-binding letter of intent dated as of November 4, 2010 providing for a business combination of the two companies (the "Business Combination). Northbrook is a private company existing under the laws of Texas which is engaged in the acquisition, exploration and development of oil and gas properties in Texas, and is also seeking to acquire additional exploration opportunities in Latin America. Drift Lake is engaged in the acquisition, exploration and development of mineral resource properties in Canada.

Northbrook was formed on June 9, 2008 and to date has acquired 6305 gross acres and 4588 net acres in East Texas, covering 6 oil and gas prospects located in various counties.

The Business Combination will be structured in the form of a share exchange, three-cornered amalgamation, plan of arrangement or similar transaction, pursuant to which, assuming that the transaction is structured as a threecornered amalgamation, Drift Lake would incorporate a wholly-owned subsidiary which would amalgamate with Northbrook, and all of the issued and outstanding securities of Northbrook would be acquired by Drift Lake from the existing holders thereof in consideration of the issuance of an aggregate of 34,000,000 common shares of Drift Lake (each, a "DLR Share"). The consideration for the Business Combination was calculated based upon a deemed price of $0.50 per DLR Share. The final structure of the Business Combination will be subject to receipt of appropriate legal, accounting, tax and financial advice, and the execution of a definitive agreement containing customary terms and conditions for a transaction of this nature.

Northbrook and Drift Lake are arm's length parties, and there are no current non-arm's length parties of Drift Lake which are insiders of Northbrook or presently hold any direct or indirect beneficial interest in either Northbrook or any of its assets. The current "control persons" (as defined by the applicable regulations of the TSX Venture Exchange) of Northbrook are Messrs. Keith Spickelmier, Doug Manner and David Cherry, further details of each of whom are set forth below.

The Business Combination is also conditional upon a private placement being completed prior to closing, either directly or indirectly through Northbrook or a special purpose financing vehicle ("FinanceCo"), of subscription receipts ("Subscription Receipts") convertible for no additional consideration into units ("Units"), each Unit consisting of one common share of Northbrook or FinanceCo (each, a "FinanceCo Share") and one-half of one common share purchase warrant (each whole such warrant, a "FinanceCo Warrant"), with each FinanceCo Warrant entitling the holder thereof to acquire one additional FinanceCo Share at an exercise price of $0.75 for a period of 18 months (subject to accelerated expiry in the event that the closing price of the DLR Shares exceeds $1.25 for 20 consecutive trading days), at a price of $0.50 per Subscription Receipt, all resulting in aggregate gross proceeds of not less than $20,000,000 (collectively, the "Financing"). The Financing is expected to be completed on a brokered basis, with the agent not yet determined. In connection with the Business Combination, it is proposed that Drift Lake would acquire the Units issued in the Financing in exchange for equivalent securities of Drift Lake on a one-for-one basis.

Drift Lake is a mineral exploration company engaged in the exploration for gold on the property known as the Rossmere property which is located in the north central part of the Shebandowan greenstone belt of northern Ontario. Pursuant to a property option assignment agreement dated September 14, 2006, as amended, Drift Lake has the option to acquire up to a 60% interest in the Rossmere property in consideration of (i) the issuance of 1,000,000 DLR Shares (which have been issued); (ii) the expenditure of a minimum of $300,000 on the property by February 25, 2012 (of which approximately $240,500 has been expended to date) in order to earn a 50% interest; and (iii) the expenditure of a further $500,000 on the property by February 15, 2018 to earn a further 10% interest. The Rossmere property is subject to a 2% net smelter return. For further details on the current mineral exploration activities of Drift Lake, please refer to SEDAR at www.sedar.com. Following the transaction, it is anticipated that Drift Lake will focus on advancing Northbrook's petroleum assets and seek to sell its interest in the Rossmere property, in an effort to enhance overall shareholder value.

For further details concerning Drift Lake, including financial information, please refer to the annual audited financial statements of Drift Lake for the year ended February 28, 2010 as well as the unaudited interim financial statements of Drift Lake for the six month period ended August 31, 2010, together with the accompanying management's discussion and analysis for each such period, all available on SEDAR at www.sedar.com.

It is anticipated that immediately following the closing of the Business Combination (and assuming that the there are no changes to the outstanding common shares or convertible securities of either company other than the Financing, and assuming the Financing is fully subscribed), an aggregate of approximately 103,315,225 DLR Shares will be issued and outstanding, of which it is anticipated that 34,000,000 DLR Shares will be held by former Northbrook shareholders, 29,315,225 DLR Shares will be held by existing Drift Lake shareholders, and 40,000,000 DLR Shares will be held by subscribers in the Financing. Furthermore, it is anticipated that no common shares of Drift Lake will be reserved for issuance pursuant to outstanding convertible securities upon the closing of the Business Combination, other than up to 20,000,000 share purchase warrants issued in exchange for the FinanceCo Warrants, an aggregate of 800,000 stock options of Drift Lake which are currently outstanding, and any compensation securities which may be issued in connection with the Financing. Based on the current shareholdings and present knowledge of each of Northbrook and Drift Lake, it is anticipated that following the closing of the Business Combination, no person or company will beneficially own, directly or indirectly, or control or direct more than 10% of the issued and outstanding common shares of Drift Lake.

Following the closing of the Business Combination, it is proposed that all directors and officers of Drift Lake shall resign, and the board of directors of Drift Lake shall be reconstituted and shall include Messrs. Keith Spickelmier and Doug Manner, together with other nominees yet to be determined. In addition, it is anticipated that Mr. Manner will be appointed as Chief Executive Officer of Drift Lake, Mr. Spickelmier will be appointed as Executive Chairman, Mr. David Cherry will be appointed as Vice-President of Exploration, and a new Chief Financial Officer will also be appointed who is yet to be determined. This board and management composition has been structured so as to integrate the expertise of experienced oil and gas executives to manage the resulting company's new oil and gas assets.

Mr. Spickelmier holds a B.A. from the University of Nebraska at Kearney and a J.D. from the University of Houston. He previously practiced law and was the co-founder of Mallard Cablevision, the Founder and the Chairmen of Westside Energy Corporation ("Westside") which was sold in June 2008 for approx. $200mm in enterprise value. Mr. Spickelmier was also the co-founder of JK Acquisition, a special purpose acquisition company which traded on the American Stock exchange in 2006 in a $80mm offering. Mr. Spickelmier is the cofounder of Northbrook.

Mr. Manner is currently acting as a Managing Partner of Northbrook, prior to which he acted as Chief Executive Officer and Director of Westside, Senior Vice President and Chief Operating Officer of Kosmos Energy, LLC. (a private energy company exploring for oil and gas in the offshore regions of West Africa), and as President and Chief Operating Officer of White Stone Energy, a Houston based oil and gas advisory firm. Mr. Manner has also previously held senior executive positions with Bellwether Exploration, Gulf Canada Resources, Ryder Scott Petroleum Engineers, and Amoco Production Company. Mr. Manner has also served on the boards of directors for Gulf Midstream Services, ROC Oil Blizzard Energy, Rio Vista Energy, Resolute Energy, Cordero Energy, Zenas Energy and Petrovera Energy Company. Mr. Manner holds a Bachelor's of Science degree in mechanical engineering from Rice University and is a professional engineer certified by the Texas Board of Professional Engineers and the Association of Professional Engineers, Geologists and Geophysicists of Alberta. He is a member of the Society of Petroleum Engineers and a previous member of the Petroleum Society of Canada.

Mr. Cherry is President and co-founder of PETROVEN, Inc., a privately held oil and gas exploration and development company. Previously, Mr. Cherry served as Vice President of American Public Energy Company which was an Amercian Stock Exchange listed company, where he supervised and directed all land activity within the company and supervised private placement programs. Mr. Cherry also previously served as Landman with Phillips Coal Company and Phillips Petroleum Company.

Completion of the Business Combination is subject to a number of conditions, including the approval of the TSX Venture Exchange, the execution of definitive documentation, the completion of satisfactory due diligence, and the requisite majority approval of shareholders of each of Northbrook and Drift Lake. The Business Combination cannot close until the approval of shareholders of both Drift Lake and Northbrook and all required regulatory approvals are obtained. There can be no assurance that the Business Combination will be completed as proposed or at all. Investors are cautioned that, except as disclosed in any management information circular to be prepared in connection with the Business Combination, any information released or received with respect to the proposed Business Combination may not be accurate or complete and should not be relied upon. Trading in the securities of Drift Lake should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed Business Combination and has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Drift Lake Resources Inc.
360 Bay Street
Suite 500
Toronto, Ontario
M5H 2V6
L.M. (Gino) Falzone
Telephone: 905-773-7526

Northbrook Energy, LLC
5930 West Parker Road
Suite 800
Plano, Texas 75093
Keith Spickelmier
Telephone: 713-248-5981

Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Drift Lake and Northbrook, including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.