Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

November 10, 2009 09:00 ET

Channel Appoints Frank Crerie and Richard Schutte to Advisory Committee, Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2009) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) announces that it has appointed two new members to its 'Advisory Committee to the Board of Directors': Frank H. Crerie and Richard P. Schutte.

Dr. Schutte earned a Ph.D. in Inorganic Chemistry from the University of British Columbia in 1995. He has developed a strong background in advanced chemical processing and applications, currently with a major international industrial gases and engineering company. Dr. Schutte has extensive expertise and hands-on experience in the process, quality control and sales aspects of the commercial production of specialty gases and metals, as well as in the recovery and sale of lithium carbonate from recycled lithium ion batteries. Based in Edmonton, Alberta, Dr. Schutte has also gained first-hand knowledge and familiarity with standards and regulations applicable to complex chemical processing facilities in Alberta and British Columbia.

Mr. Crerie brings to Channel extensive experience in investment banking, venture capital and corporate finance. He received his B.A. degree from Columbia University, and also attended the Columbia University Law School. As President of Crerie & Co., an investment banking firm with offices in Houston and New York City, Mr. Crerie underwrote the development of numerous resource projects globally. He has also founded, financed and taken public on North American stock exchanges numerous resource companies. He is currently a director of Molina Exploration Corp. and Fractal Mining Corporation, both private resource companies.

"I would like to welcome Mr. Crerie and Dr. Schutte to the Company," said Colin McAleenan, President of Channel Resources. "These new appointments add a great deal of technical and corporate finance depth to our team, further positioning the Company for growth and the rapid assessment and development of the Fox Creek mineral brine project."

Grant of Options

Channel also announces that it has granted stock options ("Options") to its advisor and consultants for the purchase of up to a total of 310,000 common shares of the Company at an exercise price of $0.10 per share. The Options have a term of five years, are subject to vesting provisions, and are governed by the Company's Stock Option Plan, pursuant to which Options may be granted up to a maximum 10% of the issued and outstanding common shares of the Company from time to time.

All shares issuable pursuant to the exercise of Options are subject to a four-month hold period commencing from the date the Options are granted.

Some of the statements contained herein are forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the price of minerals, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result of new information or future events or otherwise. Further disclosure on risk factors is available in the Company's various corporate filings at www.sedar.com.

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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