BPK Resources, Inc. Announces Execution of Letter of Intent with Graphite Technology Group, Inc.

TOTOWA, N.J. -- BPK Resources, Inc., (OTCBB:BPKR) (the "Company" or "BPK") announced today that it has entered into a Letter of Intent with Graphite Technology Group, Inc., a Delaware corporation ("Graphite"), to acquire 100% of the capital stock of Graphite. The terms of the Letter of Intent contemplate a definitive Merger Agreement that will require BPK to issue Common Shares and Preferred Stock in exchange for 100% of the issued and outstanding Common Shares and Preferred Stock of Graphite and for BPK to have $3,500,000 in cash at the time of the closing of the acquisition. Upon completion of the merger, BPK will change its name to iCarbon Corporation and the existing officers and directors of Graphite will assume their respective positions in the Company.

While the Company has executed the Letter of Intent, it is non binding and there can be no assurances that the acquisition or any of the related transactions will occur. Closing of the merger is conditioned upon satisfaction of a number of conditions, including the completion of due diligence by the Company and Graphite, obtaining the necessary financing, the execution of a definitive merger agreement , and obtaining all necessary board and shareholder approvals and third party consents.

About BPK Resources, Inc.

BPK Resources, Inc., a Nevada corporation with administrative offices located in New Jersey, was previously an independent oil and gas company engaged in the acquisition, exploration and development of natural gas and oil properties.

About Graphite Technology Group, Inc.

Graphite Technology Group, Inc., a Delaware corporation, is engaged in the business of mining, manufacturing and selling natural and synthetic graphite and carbon based materials for use in numerous industries and applications. The company has manufacturing/processing facilities located in New York and Pennsylvania and owns mining rights to operate graphite mines in Canada, Madagascar and China. The company is an ISO certified manufacturer: ISO 9001: 2000.

About Graphite and Carbon Materials Industries

Graphite and carbon materials, such as metallurgical coke, activated carbon, anthracite coal, are critical industrial materials used widely by basic industries and emerging industries for manufacturing or production processes, or by inclusion in manufactured or produced products. Graphite and carbon materials are used for their chemical composition, thermal properties and lubricity, which has important application for steel and metals manufacturing, as well as manufacturing of brick, tiles, fire retardants, pencil leads, paints, inks, adhesives and abrasives and automotive brakes, seals, rings and carbon brushes. Graphite and carbon based materials have application in tools, metal parts, dies, and for lubricants, electronic components, plastics, rubber and polymers, glass, filter media and colloidal dispersions among many others. Graphite is used in batteries, fuel cells and structured composite materials and conductive composite materials utilized in aerospace, automotive, military, electronics and recreational equipment.

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "expects," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial position to differ materially from those included within the forward-looking statements. These factors include the negotiation and execution of a definitive merger agreement acceptable to all parties, the availability of capital on terms acceptable to BPK, as well as those factors set forth in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligations to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof.