International TME Resources Inc.

News Releases
Thursday, August 30, 2007

LANCER—1 WELL SPUDS & ASCENDER—1 TO FOLLOW ON ITME—s ORRI IN SOUTH AUSTRALIA. DRILLING TO BEGIN ON TRINITY SANDS PROJECT IN TEXAS

DALLAS——(BUSINESS WIRE)—Thursday, August 30, 2007—International TME Resources Inc., (OTC:ITME — News) is pleased to report that the operator of PEL 115 & PEL 111 has announced that the Joint Venture Operator has contracted the Ensign Rig 20 for a two well drilling program. The first well, Lancer—1 has spudded.

Lancer—1 well

Lancer—1 is located in PEL 115 and is defined by the Mirage 3D with multiple reservoir objectives. The prospect is within the Mirage development zone and as such within close proximity to the Mirage production facilities approx. 3 miles to the south.

The Lancer prospect is a four way dip closed anticline located approx. 3 miles north of the Mirage production facilities and 2.4 miles southeast of the Narcoonowie Oil Field operated by Santos. The structure is defined by the Mirage 3D and has potential to contain pay in multiple reservoir horizons. Oil shows were recorded in Plotosus—1 drilled by Santos in 1997, 1.6 miles to the east. The Lancer Prospect has the potential to contain up to 5 million barrels of oil, if oil is present.

PEL 115 on ITME's ORRI consists of 273,297 gross acres and is divided into six (6) separate tracts. PEL 115 surrounds the oil & gas producing fields at Dullingari, Toolachee, Strzelecki, Della, and Kidman with cumulative recoverable reserves of approximately 104 million barrels of oil and approximately 2.5 TCF of gas.

In 2006, the Mirage—1 and Ventura—1 wells in the South Australian Cooper Basin were put on long-term production, with production licenses being granted over both oil fields. Average combined gross production from the Mirage/Ventura oil fields for the past year was at a combined rate of 328 barrels of oil per day.

With the recent successful development drilling of Mirage—3 and Mirage—4 and fracture stimulation, we look forward to an increase in oil production from the Mirage Oil Field.

The interpreted recoverable oil reserve for the Mirage Oil Field using this information is a range of recoverable oil reserves from a mean of 1.3 million barrels up to a maximum of 3.6 million barrels, however; the interpretation of the 3D data set suggest that Mirage—1 could be part of a larger feature covering approximately 12 square miles.

Such an area has the possibility of containing up to approximately 23 million barrels of oil in place, subject to the presence of suitable Murta sand reservoir on ITME's ORRI.

Ascender—1 well

The next well to be drilled is the Ascender—1 on ITME's ORRI. Ascender—1 is located in the central western portion of PEL 111. The Ascender prospect is also a large low—relief four—way dip closed structure, located 10 miles northwest of the Santos Charo oil discovery and 12 miles north of the recent Growler and Wirraway oil discoveries.

The prospect is located in the northern region of the Western Margin Oil Fairway. Primary targets are the Lower Birkhead and the Hutton.

The Ascender Prospect has the potential to contain approximately 5 million barrels of oil, if oil is present.

PEL 111 lies to the north of and adjacent to PEL 104 and covers approx. 292,819 gross acres. The permit surrounds the Santos operated Charo Jurassic Oil Field production licenses. The February 2004 seismic survey in PEL 104 was extended to include PEL 111 to define potential drilling locations for the several leads and prospects interpreted as present in the permit adjacent to the Charo oil discovery.

Preliminary mapping of the February 2004 seismic data and reprocessed seismic data in 2005 has identified at least eleven leads and prospects, with an unrisked cumulative maximum (P10) recoverable oil and gas potential for the Birkhead/ Hutton, Tirrawarra and Patchawarra targets of up to 40 million barrels of oil and 39 billion cubic feet of gas, if oil and gas are present.

Additional seismic data of 19 miles was acquired in September 2005 to further define a drilling location for the Ascender Jurassic oil prospect, up dip and 10 miles to the south west of the Jurassic Charo Oil Field.

Additional Jurassic prospects Warhawk and Gannett have been interpreted as potential drilling targets.

About TME:

The company has royalty interests in more than 4,651,695 acres located in two-world class petroleum basins in Australia, the Cooper—Eromanga Basin and the Gippsland Basin.

Substantial holdings have been acquired in two world class petroleum basins. The Cooper—Eromanga Basin (Onshore) located in the state of South Australia and the Gippsland Basin (Offshore) located in the Bass Straits and offshore to the State of Victoria

Offshore

The Company has acquired royalty holdings in 370,572 acres in the Gippsland Basin. This Basin contains some of the largest fields in the world and wells that are world record Producers. One well in the Halibut Field has produced 60 million bolls. of oil —— a world record. Many TCF of natural gas have been produced from fields in this Basin.

Onshore

The Company has acquired royalty holdings in 4,281,123 acres in the Cooper—Eromanga Basin. To date, this Basin has produced a total of 11 Trillion cubic feet of natural gas and 450 million barrels of oil have been discovered. Since the first gas discovery in 1963, a total of 123 gas fields and 58 oil fields have been discovered.

Texas — Drilling of the first well of an eight well series begins during the week of September 3, 2007. The first well will core the Trinity Sands and also test the Marble Falls Reef.

ITME has entered into a joint venture to develop a heavy oil and natural gas project in southwest Texas. A total of 33,962 acres, more or less, have been acquired in the TRINITY SANDS PROSPECT AREA located in Edwards Co., Texas. Multiple Marble Falls Reefs have been mapped at a depth of 4,200 feet and a well is being drilled to offset a mapped high to two old gas wells that produced .25 BCF per well. Cores will be taken in the Trinity Oil Sands at a depth of 1,000+,- feet over an interval of more than 70 feet. These cores will provide an update to previous old cores which verified the existence of the Trinity Oil Sands. Previous cores measured 65% oil saturation, 30% porosity and thousands of millidarcies of permeability. ITME will earn a carried net profits interest as previously reported. The company's consulting geologist projects a multi-million barrel recoverable potential for the project. A drilling rig is scheduled to move onsite during the week of September 3, 2007.

For the Board

Allen White, President

International TME Resources Inc.
6370 L.B.J. FRWY., Suite 174
Dallas, TX 75240
972.458.7013

Symbol: ITME
Web: www.tmeresources.com

The statements in the press release that relate to the company's expectations with regard to the future impact the company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since the information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.