updated 2/15/2011 7:16:11 AM ET 2011-02-15T12:16:11

SAN ANTONIO, Feb. 15, 2011 (GLOBE NEWSWIRE) -- Cross Border Resources, Inc. (OTCBB:XBOR), ("Cross Border" or "the Company"), announced that it has filed an application to list its common stock on the NASDAQ Capital Markets. The NASDAQ listing application is subject to review and approval by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ Capital Market Standards. While the Company intends to satisfy all of NASDAQ's requirements for initial listing, no assurance can be given that its application will be approved. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, XBOR.OB, during the NASDAQ review process.

Management Comments

Cross Border Resources, Inc.'s Chairman and CEO, E. Will Gray II states, "Management is pleased to announce to shareholders this submittal of the Company's common shares to a major exchange. We believe the move to the NASDAQ Capital Markets is the next logical step in Cross Border's future growth and will potentially enable us to increase our stock's trading liquidity, broaden our shareholder base and raise our profile in the investment community. Management is pleased with the progress that has transpired since our business combination, which was completed on January 4, 2011, and will provide updates on the status of the listing as provided by NASDAQ."

About Cross Border Resources

Cross Border Resources is an oil and gas exploration company, headquartered in San Antonio, Texas, focusing on non-operated opportunities with proven operators within the Permian Basin. Cross Border consists of over 800,000 gross (approximately 300,000 net) mineral and lease acres within the state of New Mexico targeting various emerging plays including the 1st & 2nd Bone Spring, and more conventional plays such as the Abo, Yeso, and San Andres.

Forward Looking Statements

This news release contains forward-looking statements that are not historical facts and are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. 

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom the Company has contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and leases. Additional information on risks for the Company can be found in the Company's filings with the US Securities and Exchange Commission.

CONTACT: Cross Border Resources, Inc.
         Brad Holmes
         Nine Greenway Plaza, Suite 550
         Houston, TX 77046
         (713)654-4009 - office
         (713)304-6962 - cell
         b_holmes@att.net

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