Channel Resources Ltd.

Channel Resources Ltd.

December 13, 2007 15:00 ET

Channel Completes Drilling at El Mozo, Discovers Radiometric Anomaly at West Bienville, Renews Tanlouka Exploration License

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) provides the following update on its exploration activities in Ecuador, Canada and Burkina Faso.

El Mozo Gold Project, Ecuador

A six-hole core drilling program totalling 1,784 metres that was announced on October 17, 2007 has been completed on the Mozo Gold Project in Azuay Province, Ecuador. This program, focused primarily on testing geological and geophysical targets at Puente de Piedra, the Indira Structure, the Indira North zone and the Loma Santa Elena zone. Maps illustrating the target areas and pictures of the drilling activities are available on the Company's website at

The Puente de Piedra zone has never been drilled and comprises a coincident chargeability anomaly, hydrothermal breccia outcrops and a linear structure that is parallel to, and 1,500 metres southeast of, the Indira Structure. Two holes were drilled 400 metres apart along strike into this structure at points where the breccia and chargeability highs are evident.

The Indira North zone shows a high chargeability anomaly that extends north of the Indira Structure for a distance of about one kilometre beneath a non-mineralized volcano-sedimentary unit. It is postulated that the chargeability high could be evidencing a mineralized horizon below the barren cover rocks. Two holes on Indira cross section line 2250E have been drilled to test this target.

The Indira Structure itself has previously been drilled at approximately 100 metre centres, with some areas at 50 metre centres, along a strike length of approximately 1,500 metres. Most of the previous holes did not extend below 150 metres in depth. The current program targeted one of the mineralized cross sections at Indira (2000E) to test for mineralization at depth.

A single hole targeted the Loma Santa Elena zone, where extensive surface argillic alteration may be indicating the presence of a mineralized system at depth.

All drill cores from this program have now been logged and sampled. The first batches of samples will be delivered to Acme Analytical Laboratories Ltd. in Vancouver within the next week.

West Bienville Uranium Project, Quebec, Canada

In October, McPhar Geosurveys Ltd. completed a helicopter-borne survey over the 108-km2 claim block comprising the property using flight lines spaced 200 metres apart. The survey included high sensitivity magnetometry, gamma ray spectrometry and THEM time-domain electromagnetic surveys. Approximately 500 line-kilometres were successfully surveyed before survey crews de-mobilized for the winter season.

Survey results indicate the presence of two high-priority radiometric anomalies:

- an east-southeast trending anomaly with a strike length of approximately 5 kilometres and a width of up to one kilometre; and,

- an east-northeast trending anomaly with similar dimensions to the east-southeast anomaly.

Both radiometric anomalies merge and are spatially correlated with peak uranium values (230 ppm U) from an earlier regional lake-bottom sediment survey. Significantly, these anomalies also coincide with the location of the intersection of regional-scale faults and magnetic anomalies. We consider all of these factors as positive indicators of the property's uranium potential and the two radiometric trends will be the prime targets of follow-up field work in 2008.

The West Bienville project is located in Northern Quebec and was optioned from Azimut Exploration Inc. in early September under a Letter of Intent. The project is centred on a clearly defined, 10 kilometre long uranium anomaly in lake-bottom sediments adjacent to the 350 kilometre long Central Quebec Uranium Lineament, which is associated with crustal-scale structural features. The uranium footprint, as well as other geochemical parameters, and magnetic data suggest that the property has the potential to host intrusion-related and/or structurally-related uranium mineralization.

Tanlouka Project, Burkina Faso

Channel has been officially informed that the 105 square kilometer Tanlouka concession in Burkina Faso has been extended by the Ministry of Mines for another three years.

Follow-up work on the previously reported exploration program that included in-fill soil sampling over the strongest part of a regional gold in soil anomaly, as well as trenching, rock sampling and mapping, is being planned and will likely include geophysics surveys to assist in the definition of drill targets.

The above information has been prepared under the supervision of Colin H. McAleenan, P.Geo, who is the Company's "Qualified Person" under the definition of NI 43-101.

Channel is an exploration stage company that is earning a majority interest in the Mozo gold project in Ecuador, in two exploration-stage gold projects in Burkina Faso, West Africa as well as the West Bienville uranium project in Quebec. The Company also has formed a strategic alliance with Azimut Exploration Inc. ("Azimut") to acquire and explore major exploration targets in Ecuador based on a country-wide mineral potential assessment carried out for the Company by Azimut.

Some of the statements contained herein may be 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 mineral commodities, 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.

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