CALGARY, ALBERTA--(Marketwire - Feb. 25, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES.

Radius Resources Corp. ("Radius") (TSX VENTURE:RAX) announced today that it filed a notice of intention ("NOI") to make a proposal to creditors under the Bankruptcy and Insolvency Act ("BIA") on February 23, 2010. The filing of the NOI is a step taken by Radius in preparation for the filing of a proposal under the BIA to effect a restructuring process to be undertaken as part of a proposed business combination with Argosy Energy Inc. previously announced on December 8, 2009.

Forward-Looking Statement

The press release may contain certain forward looking statements which may include plans, expectations, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, meeting the terms, conditions and approval requirements under the NOI, the proposed restructuring process under the BIA, statements concerning the restructuring process and the satisfaction of certain terms and conditions relating to the same, including without limitation applicable regulatory and creditor approvals. Although Radius and believed that the expectations reflected in such forward looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Completion of the business combination and restructuring process as proposed under the letter agreement are subject to a number of conditions which Radius cannot give any assurance that such conditions will be met on a timely basis, or if at all, as certain as the conditions are in the control of other parties. As such, the future plans and objectives of Radius are forward looking statements that involve risks and uncertainties that may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. The foregoing list of risk factors is not exhaustive. Additional information on risk factors is included in Radius' Annual Information Form and other public documents available under Radius' profile on SEDAR. Although Radius has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. In making its forward looking statements, Radius used, among others, the following material factors or assumptions to develop a forward looking information enumerated above: the parties under the letter agreement will continue to negotiate in good faith; definitive agreements reflecting the terms of the letter agreement will continue to be negotiating in good faith; definitive agreements reflecting the terms of the letter agreement will be mutually agreed upon in a timely manner; and the economic and market conditions in the oil and gas industry shall remain sufficiently stable for the parties to continue with the proposed transaction. Radius' forward looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Radius does not intend, nor does it undertake any obligation, to update or review any forward looking statements to reflect subsequent information, events, results or circumstances or otherwise.

Radius is a junior oil and gas company engaged in the exploration for, and development and production of, crude oil and natural gas focusing in the Peace River Arch region of central Alberta. Radius's shares trade on the TSX Venture Exchange under the symbol "RAX".