Telferscot Announces Change of Auditor

TORONTO, Ontario, April 23, 2012 – Telferscot Resources Inc. (CNSX: TFS) (“Telferscot” or the “Company”) wishes to announce that its former auditor, Jim M. Smith, Chartered Accountant Inc., has resigned and has been replaced by MSCM LLP.  The resignation was a result of Mr. Smith being a sole practitioner and having his external engagement quality control review firm resign.  Mr. Smith was not able to find a suitable replacement to complete the audit of the Company as required by Canadian auditing standards and the Canadian Public Accountability Board.  The Company expects to be able to file its audited financial statements by the required due date of April 30 and will keep the market updated if there are any changes.