Mirage Energy Ltd. TSX VENTURE: MGE PINK SHEETS: MRGYF

CALGARY, ALBERTA--(CCNMatthews - May 7, 2007) - Mirage Energy Ltd. (TSX VENTURE:MGE) (PINK SHEETS:MRGYF) ("Mirage" or the "Company") announces that Mr. Richard Boswell has resigned as a director of the Company in order to pursue other business opportunities.

The Board of Directors wishes to thank Mr. Boswell for his years of service as a director of the Company and wish him well in his future business endeavors.

Mirage is a junior oil and gas company focused on the exploration and development of oil and gas in western Canada.

READER ADVISORY

Statements in this press release may contain forward-looking statements including expectations with respect to future events and the actions of third parties. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: the underlying risks of the oil and gas industry (i.e. operational risks in development, exploration and production; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserves estimates; the uncertainty of estimates and projections relating to production, costs and expenses, adequate available financing and health, safety and environmental factors), commodity price and exchange rate fluctuation and uncertainties.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.