Canadian Orebodies Inc.
TSX VENTURE : CO

Canadian Orebodies Inc.

November 19, 2009 13:45 ET

Orebodies Expands Work Program on Lithium/Rare Metals Properties

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2009) - Canadian Orebodies Inc. (TSX VENTURE:CO)("Orebodies") is pleased to announce that it has expanded the previously announced work program on its newly acquired Lithium/Rare Metals properties (the "Properties"). Due to better than expected weather conditions Orebodies has been able to extend and expand the work programs which it previously announced in Orebodies Press Release dated November 9, 2009.

The expanded program will include mechanical stripping on the Falcon property, focusing on the West deposit, to better expose and trace the zone which will be followed up with systematic channel sampling. Also, a third crew has been mobilized to the Greenbush property to commence detailed geological mapping and sampling. Having this additional crew made available means that work is now able to commence on all 5 of the newly acquired Properties, which will allow for the collection of information that will enable Orebodies to continue with its exploration and evaluation of the Properties over the winter months.

In order to complete the purchase of 100% interest in the Properties (subject to a 2% NSR retained by the vendor, 50% of which can be purchased by Orebodies for $1,000,000), Orebodies is required to issue an aggregate amount of 1,600,000 common shares of Orebodies and issue 1,600,000 share purchase warrants, each warrant entitling the holder to acquire one common share of Orebodies at an exercise price of $0.15 per share for a period of two years from closing. More information regarding the Properties can be found in Orebodies Press Release dated October 22, 2009.

Closing of the transaction remains subject to the approval of the TSX Venture Exchange and the execution of a definitive purchase agreement.

Forward Looking Information:

Some of the statements and information contained herein may be forward-looking information which involves known and unknown risks and uncertainties, including statements respecting the proposed acquisition of the claim units pursuant to the purchase. Without limitation, statements regarding the potential purchase of the claims, statements regarding potential mineralization and resources, proposed exploration activities and future plans and objectives of Orebodies are forward looking statements that involve various degrees of risk. The following are important factors that could cause Orebodies actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, the uncertainty of access to capital. In particular, there can be no assurance that the definitive purchase agreement will be entered into, that TSX Venture Exchange approval of the purchase will be obtained, or that Orebodies will undertake any or all of the payments or issuances necessary to complete the purchase.

Contact Information