ARK Arras Minerals Corp

NOT FOR DISTRIBUTION TO A US NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED
STATES


Archer Petroleum Corp. (TSX VENTURE:ARK)(OTCQX:APEUF)(FRANKFURT:A6VA) (the
"Company") is pleased to announce that it has closed its previously-announced
non-brokered flow-through private placement (see news release of October 13,
2010) (the "Offering").


The Company has issued 1,562,000 units ("Units") at a price of $0.18 per Unit
for gross proceeds of $281,160. Each Unit will consist of one Flow-through
Common Share (the "Flow-Through Shares") and one-half of a transferrable Common
Share Purchase Warrant. Each Warrant may be exercised to acquire one
non-Flow-through Common Share at a price of $0.25 per common share for a period
of 18 months from the date of distribution. The Flow-Through Shares and Warrants
are subject to a hold period expiring on March 17, 2011. 


The Company intends to use the proceeds of the placement to incur Canadian
Exploration Expenses or Canadian Development Expenses that may be renounced as
Canadian Exploration Expenses under the Income Tax Act (Canada) by December 31,
2010. In that regard, the proceeds will be used for drilling wells on the Radway
Prospect in Alberta. 


In connection with the Private Placement, Archer has paid to finder's cash fees
of $18,270 on that portion of the funds raised by the respective finder. 


About Archer Petroleum:

Archer Petroleum Corp. is an independent oil and gas company focused on
exploration and development in North America. Archer's assets include properties
in the Western Canadian Sedimentary Basin of Alberta, the Permian Basin of West
Texas, and the Bakken Shale of North Dakota. The Company's shares are listed on
the TSX Venture Exchange under the symbol "ARK" and the OTCQX under the symbol
"APEUF" and the DB Frankfurt exchange under "A6VA". Further information on
Archer can be found on the Company's website at www.archerpetroleum.com.


ON BEHALF OF ARCHER PETROLEUM CORP.

Colin Bowkett, President

Although Archer believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Archer can give no assurance
that they will prove to be correct. Since forward looking statements address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to, the failure to obtain necessary regulatory approvals, risks
associated with the oil and gas industry in general (e.g., operational risks in
development, exploration and production; delays or changes in plans with respect
to exploration or development projects or capital expenditures; the uncertainty
of reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental risks), and
commodity price, interest rate and exchange rate fluctuations. The
forward-looking statements contained in this document are made as of the date
hereof and Archer undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

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