Nitro Petroleum Inc.(fka NTRO)

[ErnieBilco]

Core Resource Management, Inc. and Nitro Petroleum, Inc. Enter Into Definitive Agreement and Plan of Merger

PHOENIX, AZ and SHAWNEE, OK--(Marketwired - September 03, 2014) - Core Resource Management, Inc. (OTCQB: CRMI) ("Core") and Nitro Petroleum, Inc. (OTCQB: NTRO) ("Nitro") announced today that the two companies, together with Core Resource Management Holding Co. ("CRMI-H"), a wholly-owned subsidiary of Core, have entered into an Agreement and Plan of Merger (the "Merger Agreement") (dated August 28, 2014), pursuant to which, subject to the satisfaction or waiver of certain conditions, CRMI-H will merge with and into Nitro (the "Merger"), with Nitro becoming a wholly-owned subsidiary of Core.

Upon the consummation of the Merger, based on the number of shares of Nitro common stock outstanding on August 28, 2014, each outstanding share of Nitro common stock (other than shares held by those Nitro stockholders properly exercising dissenters' rights) would be converted into .0952 shares of CRMI common stock (Ratio 10.5 to 1). The number of shares of CRMI common stock that may actually be issued with respect to a share of Nitro common stock may be modified in the event additional shares of Nitro common stock are issued prior to the consummation of the Merger. Nitro stockholders will receive cash in lieu of fractional shares of CRMI. Core will file an S-4 registration statement with the Securities and Exchange Commission ("SEC") to register all shares of common stock issuable to the Nitro shareholders upon consummation of the Merger. The Merger is subject to the approval of Nitro's shareholders.

Nitro's properties are located within the prolific Oklahoma Anadarko basin, an area noted for long life oilfields, excellent historical well control, relatively shallow target pay zones, and superior wellbore economics. Nitro boasts a significant inventory of low risk, low cost and high rate of return drilling, behind pipe, salt water disposal, offset and/or rework/recompletions in the Mid Continent region. As leasehold ownership in this area has long been fragmented, excellent potential exists for bolt-on acquisitions and drilling opportunities. These properties, along with Cores Texas properties will become the main operating regions for the post-merger company.

In order to create the best team of industry experts possible, and facilitate the best value of the business combination in the proposed Merger, the Board of Directors of Core and Nitro determined that it is in the best interests of both companies that Mr. Jim Borem and Mr. Larry Wise will remain on as active management to utilize their skill sets within the oil industry. Together the two boast over Seventy Five Years of industry experience and successful property management. Mr. Borem, Nitro's present Chief Executive Officer, will continue to serve in that capacity and as Chairman of the Board of Directors of Nitro to facilitate the merger. Post-Merger, Mr. Borem will resign as Chairman of the Board of Directors of Nitro, and immediately commence serving as a Chief Operating Officer of Core Resource Management, Inc. Mr. Borem entered into a two year employment agreement with Core to serve in such capacity. Mr. James Clark, Core's present Chief Executive Officer will continue to serve in that capacity post-merger. Following the Merger, it is planned that Mr. Wise will become the Executive of Field Operations to Core with responsibility to oversee the Company's operations and planned acquisitions. Mr. Phillip Nuciola III, will remain Chairman of the Board of Core, providing both his wealth of banking experience, capital market expertise, and management success to lead the combined companies into the future.

Managements of both Core and Nitro feel strongly that the combination of Richfield's properties and Core's current cash on hand and access to additional capital will create an outstanding opportunity to fully exploit and develop Richfield's significant, primarily oil producing asset base. Further, Nitro management feels that with its field expertise and Core's Capital Markets experience, the two companies will have an escalated synergy that will drive shareholder value.

Chief Executive Officer James Clark commented, "The merger is important to the Company's continued growth and advancement of Core's mission to acquire and manage proven-producing wells and assets. It will help grow our revenue base and scale us into the new and exciting United States regions in oil and gas sector. Further, the addition of NTRO key management will enhance our ability to evaluate new opportunities and potential targets better and more efficiently, as well as strengthening our risk management model in the field." Clark continued, "I feel we are advancing readily in growth stage of our business model. Rockefeller once explained the secret to success. 'Get up early, work late, and strike oil.' We believe that in the end truth will rise above falsehood and oil above water."

About Core Resource Management, Inc.

Core Resource Management, Inc. (OTCQB: CRMI) ("CORE") (www.coreresource.net), is a Phoenix-based oil & gas company engaged in the acquisition of existing oil & gas production in partnership with established oil & gas operators in Texas and the Southwest.

About Nitro Petroleum, Inc.

Nitro Petroleum, Inc. (OTCQB: NTRO) ("Nitro") (www.nitro-petroleum.com); Nitro Petroleum is an Oklahoma based oil & gas drilling and production company, that holds undervalued drilling prospects in the mid-continent region of the United States. Nitro focuses heavily on creating both growth and value through developmental drilling and carefully screened mineral "plays" located in proven undeveloped or overlooked fields.