Curlew Lake Resources Inc.

Curlew Lake Resources Inc.

September 09, 2009 10:05 ET

Curlew Lake Resources Targets Highly Prospective Oil Targets With Additional Land Acquisitions and Increased Interest

LANGLEY, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2009) - Curlew Lake Resources Inc. (TSX VENTURE:CWQ)(PINK SHEETS:CWLXF) announces the successful acquisition of an additional 14 sections (8,960 acres) of oil and natural gas leases on its Steen River Prospect in northern Alberta. This brings the Company's land position to a significant 20 section (12,800 acres) in a highly prospective area. Additionally the Company has increased its interest from 25% to 32.5%. The Steen River structure, located 700 miles north of Edmonton, is a meteorite impact crater producing from the outer rim up to 1000 b/d oil and 35 MMcf/d gas including 72 BCF gas reserves. The option lands are located on the untested central uplift; where drill logs indicate about a 1000 meter relief on the fractured basement high.

Background on the acquisition:-

Recently a junior mining company exploring for diamonds core drilled three of the magnetic highs associated with the Steen River Impact structure. At one diamond drill hole flowing gas forced the diamond drilling to stop and live oil stain was found in the core from a section of seuvite. Core recovered from both holes #2 and #3 showed solution porosity with oil stain over an interval in the suevite breccia above the central uplift (hole #3) and adjacent to the central uplift in hole #2. Bearspaw Petroleum subsequently drilled a well at the site of diamond drill hole #2 to about 500 meters. Logging indicated a gas show in the seuvite breccia. Upon testing, pressures were not maintained (indicating a pocket) and the well was abandoned. However since the central uplift is comprised of fractured basement granitoids, gneiss etc. it is unlikely that the meteorite impact could generate such an uplift without the uplift being comprised of fractured basement rocks. No doubt some or many of the fractures were healed (especially at the top near the contact with the overlying seuvite breccia), but the Company believes it is likely they have been reopened by subsequent movement along the wrench fault that cuts the central uplift and relates to the Great Slave Shear zone. Also, solution porosity is evident from gas bearing, oil stained cores taken from the overlying seuvite breccias. Although unknown at this time, the Company and its partners believe the oil and gas shows contained in the solution porosity of the overlying seuvite breccias likely leaked from below. Solution porosity, along with fracture porosity is what contains oil and gas within all basement reservoirs. Another interesting fact is that basement highs are also pressure lows into which fluids migrate-hopefully the fluids are oil and gas. Considering the abundance of Devonian fractured source rocks within the area of the outer rim, the amount of oil and gas available could be significant.

Other meteorite impact zones have seen company maker results. In the Wilmington field in California an impact site has produced over 22 million barrels of oil from the basement reservoir. In the Suban gas field in Indonesia estimates of gas in place are approximately 7 trillion cubic feet of gas. The Mara Oil Field in Venezuela has produced over 31 million barrels of oil. White Tiger, Vietnam's largest oilfield, produces almost 200,000 barrels of oil per day from a granitoid basement reservoir, with reserves estimated at 2 billion barrels.

On Behalf of the Board of Directors

Robert B. Pincombe, President

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Warning: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release a result of numerous factors, some of which are outside the control of the Company.

The TSX has not reviewed and does not does accept responsibility for the adequacy or accuracy of this News Release.

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