Canadian Shield Resources Ltd.
TSX VENTURE : EXP

Canadian Shield Resources Ltd.

March 23, 2010 08:00 ET

Canadian Shield Exploration & Corporate Update

TORONTO, ONTARIO--(Marketwire - March 23, 2010) - Canadian Shield Resources Ltd. (TSX VENTURE:EXP) ("Canadian Shield" or the "Company") is pleased to provide an update on the exploration programs and corporate structure of the Company. Since January, Canadian Shield has added three consulting geologists to the Lima staff to work on the Regional Andean Gold Exploration program (RAGE) and on the Company's seven other gold projects. The RAGE field team is actively evaluating new property opportunities in Peru. At Canadian Shield's most advanced projects, Colpayoc and Estrella, the staff is improving the geological and drilling database in preparation for potential resource estimation and further exploration. SRK Consultants (US) Inc. has been retained to prepare NI 43-101 Technical Reports and field reviews are now in progress. Additional drilling permits are being acquired at the Estrella project and the Company continues to review property submittals from outside parties in Peru. Canadian Shield is in early stage discussions with other mid-sized companies for possible ventures on some projects. The management is also investigating opportunities to expand the program into other prospective gold regions of Latin America. 

On the corporate side, Canadian Shield's Board of Directors has been strengthened with the addition of Mr. Fernando Pickmann, a Lima attorney specialized in corporate and mining law, with extensive experience in the junior mining sector of Peru. A full time manager of Community Relations has been hired to expand the Company's programs in all projects. Canadian Shield has sufficient working capital in place to fund its exploration programs and operating costs for the next 12-months and beyond. Canadian Shield reconfirms that there are no recent material changes in the Company or in its programs and that there is no material information pending that would account for the recent increase in market activity and decline in its share price.

About Canadian Shield Resources Ltd. (TSX VENTURE:EXP)

Canadian Shield is a precious metals exploration and development company focused on strategically-located properties in Perú and Chile. Canadian Shield has seven precious metal exploration projects in Perú and one in Chile. The Company's shares are listed on the TSX Venture Exchange (Trading Symbol TSX VENTURE:EXP). Further information is available at Canadian Shield's website: www.canadianshieldresources.com.

Forward-Looking Statements This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives or expected results of Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Future drilling may fail to confirm economic mineral accumulations on current targets or discoveries. Important factors that could cause actual results to differ materially from the Company's expectations are the risks and uncertainties inherent in resource exploration and development detailed from time to time in the filings made by Company with securities regulators.

STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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.

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