Tribute Resources Inc. Announces Additional Investment in Wind Development Near Nanticoke, Ontario

Tribute Resources Inc. Announces Additional Investment in
Wind Development Near Nanticoke, Ontario

London, Ontario CANADA, October 30, 2009 /FSC/ - Tribute Resources Inc.  (TRB - TSX Venture), a developer of natural gas storage assets and renewable energy projects in Ontario, announced today that it is on target with its wind development near Nanticoke Ontario to develop a 100 MW wind farm (the "Project") with a commissioning date in 2011. Tribute, through its investment in limited partnerships, has accumulated sufficient lease options to support the development of a 100 mw wind farm near Nanticoke, Ontario.

The Nanticoke wind options are held in the Nanticoke Wind Limited Partnership. ("Nanticoke LP")  Tribute owns 100 % of the units in this partnership and its general partner, Nanticoke Wind Corp. ("Nanticoke GP").  The Nanticoke LP has secured land lease options on 5,500 acres of lands in the Nanticoke, Ontario area and has identified an additional 1,500 to 2,500 acres of proximate lands for total targeted lease holdings of 7,000 to 8,500 acres.  

The Dover lands are optioned by the Dover East Wind Limited Partnership ("Dover LP") The Dover LP is operated by its general partner, Dover Wind Corp (the "Dover LP")  Tribute currently owns 50% of the Dover LP and the Dover LP.  Dover LP has secured land lease options on 1,400 contiguous acres of lands just east of Port Dover, Ontario.  

It is the intent of Tribute that the lands in both Nanticoke and Dover will be developed together. Sufficient lands have been optioned to support the development of a 100 MW project size meeting the requirements of the Renewable Energy Application requirements.  Leasing is on-going with additional lands being targeted to support the development of up to a 120 MW project.

Environmental studies are underway which will enable a complete Renewable Energy Application to be filed with the Ministry of Environment (MOE) by February 2010.  In addition, Tribute has filed a Notice of Commencement with the MOE on September 16, 2009.  

Wind measurement is on-going from five meteorological wind towers which have been operational for terms of 14 months to three and one half years.  

The Project proposes to interconnect with Hydro One Networks Inc.'s twin circuit 230 kV lines on lands Tribute currently holds under lease.  Transmission interconnection facilities engineering work is currently being undertaken.

The Project has sufficient land leases to submit a Feed-in Tariff (FIT) Application pursuant to the September 24, 2009 announced FIT Rules and REA requirements for a minimum 100 MW development with a Target Commercial Operation Date (COD) of Q3 2011.

Tribute is actively negotiating with credit worthy third party investors interested in acquiring a controlling interest in the Project and capable of meeting the asset requirement tests of the FIT program.  Tribute is on target with its submission deadline of November 30, 2009.    


About Tribute Resources Inc.:
Tribute is a Canadian energy company with a primary focus on adding value to shareholders by exploring for, developing and maintaining a long-term interest in market-based priced underground natural gas storage assets and renewable energy projects in the Province of Ontario. Tribute's objective is to build a company capable of delivering and sustaining long-term per share growth by developing energy projects that will generate stable long term cash flow when fully developed. Tribute's business plan is to build upon its current asset base to identify, permit, develop, and construct projects that meet its threshold return criteria. Tribute will create value by identifying project opportunities, providing the expertise to develop the projects and maintaining an interest in the completed assets to build long-term stable utility quality cash flow from a strong and diversified energy related asset base.

Tribute believes that it is well positioned to take advantage of opportunities in the ongoing restructuring of the energy markets in Ontario and North America. Tribute's three business units - Underground Natural Gas Storage, Oil and Gas Exploration, and Renewable Energy Development - are strategically aligned with the evolving energy market.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchanges) accepts responsibility for the adequacy or accuracy of this news release.

For further information on this press release please contact Jane Lowrie, President of Tribute at (519) 657-7624 or visit our website at www.tributeresources.com.


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Source: Tribute Resources Inc. (TSX-V: TRB) http://www.tributeresources.com
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