TORONTO, ONTARIO (TSX VENTURE: BLR) announces that trading of its common shares will be halted effective at the opening of trading today, in anticipation of the completion of the arrangement of Baltic involving PhosCan Chemical Corp. ("PhosCan").

The arrangement was approved by the shareholders of Baltic and the shareholders of PhosCan on March 4, 2008, and by the Court of Queen's Bench of Alberta on March 7, 2008. For information concerning the arrangement, please refer to Baltic's management information circular dated February 1, 2008, filed on SEDAR at www.sedar.com.

Contacts: Baltic Resources Inc. Donald McKinnon President & CEO (705) 268-9000 Baltic Resources Inc. Gordon McKinnon Manager Corporate Development (705) 268-9000 Website: www.balticresources.ca

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