ERA Surpasses 2 Million Tonnes in Carbon Offset Sales

ERA Carbon Offsets Ltd. is pleased to announce that the company has achieved a new sales milestone, having sold more than 2 million tonnes of forest based carbon offsets to customers and clients around the world.

Established in 2005, ERA has become the largest Canadian developer and retailer of forest based carbon offsets by volume and sales. ERA has developed and co-developed forest carbon projects that have been recognized with awards for their unique contributions to conservation and land management. Through these projects, ERA has had the opportunity to work with organizations such as The Nature Conservancy of Canada, The Forest Carbon Group AG, British Columbia Parks, Shell Canada, 3GreenTree Ecosystem Services and a number of forward looking Municipalities in the Lower Mainland of BC - all whom have helped establish and promote forest conservation and restoration using carbon based financing.

To date, all completed projects and carbon sales have been to clients in the international voluntary market. It is expected that future sales will expand beyond voluntary markets to include compliance schemes that are developing in regional markets such as California and the Western Climate Initiative jurisdictions, which include the provinces of British Columbia, Quebec and Ontario. Beyond North America, ERA continues the development of its internationally recognized REDD (Reduced Emissions from Deforestation and Degradation) project in the Democratic Republic of Congo, the first concession based forest conservation project to be awarded in that country. Additional markets for forestry based carbon offsets are expected to include Australia, Korea and Japan.

Duncan Manson, CEO of ERA, comments, "We are proud to have achieved the 2 million tonne milestone in carbon offset sales during a period of time that has been economically difficult for many organizations, so we thank each of our partners, clients and customers for staying committed to climate change mitigation through forest conservation and forestry based carbon offset financing. And while climate policy has become a political hot potato in many jurisdictions, the positive developments we see in California, Australia, South East Asia, and even here in British Columbia, lead us to believe that there is a vibrant future ahead for our industry as ERA develops new projects and explores new markets."

ERA at COP 17 in Durban, South Africa

ERA is pleased to report its participation in the 17th Conference of the Parties (COP 17) which took place in Durban, South Africa between November 28 and December 9, 2011. COP 17 was organized by the United Nations and brought together political representatives from 194 participating nations, as well as members of academia, NGOs and NPOs, indigenous groups, project developers, international funding agencies and institutions, as well as students and international media, who gathered to discuss, debate and advance policy related to climate change.

On Friday December 2, 2011 ERA hosted a panel discussion, organized by the International Emissions Trading Association (IETA), entitled "Key Elements to Making REDD Projects in Africa a Success" which included a cross section of stakeholders including: John Kendall RFP - Lead African Community based Forester for ERA's Mai Ndombe REDD project, Jean Robert Bwangoy Bankaza - ERA DRC Project Lead, Mike Korchinsky - CEO of Wildlife Works, Christian del Valle - Director of Environmental Markets and Forestry at Althelia Ecosphere, Bruno Guay - Technical Advisor for DRC National REDD Coordination for the UNDP and Victor Kabengele - Project Coordinator at the DRC Ministry of Environment, Nature Conservation and Tourism. The panel was moderated by Georg Schattney - Managing Director at Forest Carbon Group AG. A more detailed report of COP 17 highlights and ERA's activities will be included in ERA's fourth quarter newsletter which will be available on our website in mid December, 2011.

ERA Grants Options

ERA has granted 250,000 options to Frederic Jacquemont, President of ERA, at an exercise price of $0.30Cdn. The warrants are exercisable for a period of 5 years from the date of issuance, March 10, 2011.

About ERA Carbon Offsets Ltd.

A pioneer in forest restoration and conservation carbon offset projects, ERA has delivered over two million tonnes of carbon offsets to the voluntary market. The company's Community Ecosystem Restoration Program ("CERP") began in 2005 in British Columbia, Canada, and its activities have grown to include forest carbon projects in Canada, Africa, New Zealand and the United States. ERA's clients and product users include Air Canada, Catalyst Paper, Rolling Stone Magazine, HSE - Entega, The Forest Carbon Group AG, and Shell Canada Limited. ERA's carbon offset products are validated and verified to ISO-14064, CCBA, PFSI-VER, CAR and VCS standards.

On behalf of the Board of Directors,

ERA CARBON OFFSETS LTD.

Duncan J. Manson, Chief Executive Officer

Additional information on ERA can be found on the corporate website www.eracarbonoffsets.com or by contacting investor@eracarbonoffsets.com.

FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of the company's general business development, research development and the company's development of forest-based carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although ERA Carbon Offsets Ltd. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.