TRC Amends Its Offer for Petrominerales Ltd.

TORONTO, ONTARIO--(Marketwire - April 14, 2011) - TRC Capital Corporation (TRC) announced today that it has decreased its offer price payable for up to 2,000,000 common shares of Petrominerales Ltd. (the "Company") to $32.75 per share from $35.50 per share.

TRC also announced that it has extended its offer until 5:00 p.m. Toronto time on April 28, 2011, unless further extended.

TRC has been advised by the depository for the offer that no common shares have been deposited to the offer as of April 13, 2011.

TRC will accept for payment and will pay for all shares validly tendered prior to the expiration date and not properly withdrawn in accordance with the terms of the offer. TRC will not be required to accept for payment or pay for any shares and may terminate the offer if certain conditions which, in the reasonable judgment of TRC in any such case, makes it inadvisable to proceed with the offer or with such acceptance for payment or payment.

Shareholders of the Company who have already tendered their shares and have not withdrawn such shares need not take any additional action with respect to TRC's amended tender offer. These shareholders will receive the decreased offer price of $32.75 per share in TRC's tender offer.

Investors and security holders are strongly advised to read the definitive Offer to Purchase together with the Notice of Variation and Extension because they contain important information. Investors can obtain a free copy of the Offer to Purchase and the Notice of Variation and Extension from the depositary, CNRA Financial Services Inc., by calling (416) 861-9446.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SHARES. THE SOLICITATION AND THE OFFER TO BUY THE COMPANY'S COMMON SHARES WILL ONLY BE MADE PURSUANT TO THE OFFER TO PURCHASE AND RELATED MATERIALS, AS SUCH DOCUMENTS ARE SUPPLEMENTED AND AMENDED. SHAREHOLDERS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. SHAREHOLDERS CAN OBTAIN A COPY OF THE OFFER TO PURCHASE AND RELATED MATERIALS WITH RESPECT TO THE TENDER OFFER BY CONTACTING THE INFORMATION AGENT FOR THE OFFER, CNRA FINANCIAL SERVICES INC. AT (416) 861-9446.

TRC Capital Corporation is a private investment corporation that manages a diverse investment portfolio focusing on manufacturing, commodity, pharmaceutical and basic industries.