Shear Wind Inc.

Shear Wind Inc.

August 12, 2008 12:48 ET

Shear Wind Inc.: 2 Proposed Mega Projects for New Brunswick

HALIFAX, NOVA SCOTIA AND CALGARY, ALBERTA--(Marketwire - Aug. 12, 2008) - Shear Wind Inc ("Shear Wind") (TSX VENTURE:SWX) is pleased to announce the latest projects, Benjamin River and Mann Siding, with over a 100,000 acres of developable land and has a wind development capacity of over 1000 MegaWatts (MW) of electrical generation in the province of New Brunswick.

Benjamin River: A Preliminary Interconnection Assessment by New Brunswick Power has been completed and application for an in-depth System Impact Study (SIS) has been submitted for a phase 1, 150 MW. The proposed project is approximately 15 km from an established transmission corridor where initial assessment has determined interconnection availability on one of two large transmission lines.

Mann Siding: Shear Wind's first New Brunswick site has a 500 MW wind development capacity and has received an initial confirmation of interconnection of 150 mw through a completed Preliminary Interconnection Assessment by New Brunswick Power. The site is in northwestern New Brunswick, has a 138kV transmission line intersecting the project. Shear Wind has submitted application for the in-depth SIS.

"We are extremely excited about these two New Brunswick properties, as they will give us both the ability to bid on any future Request for Renewable Energy Proposals by New Brunswick Power, and the ability to build generation for export to the Northeastern USA," states Mike Magnus, President and CEO. "This increases our potential wind development across Canada to over 1650 MW."

Wind data collection and analysis is continuing at both sites, and Shear Wind is moving forward to obtain all necessary studies and permitting in order to have these sites development-ready by the fourth quarter of 2009.

Shear Wind is moving ahead on schedule with their development of their extensive pipeline. A recently signed Power Purchase Agreement (PPA) with Nova Scotia Power Inc. (NSPI) for 60 MW at the Glen Dhu Wind Park site has resulted in a very rigorous schedule to start building the wind site this summer. Another recent announcement was the confirmation to move forward at the 100MW Glenridge Site in eastern Alberta.

Phase II of the Nova Scotia site is in the planning stage and is anticipating moving forward with the development of a possible power export arrangement for 170 MW.

About Shear Wind

Founded in 2005, Shear Wind is headquartered in Halifax, Nova Scotia and is engaged in the exploration and development of renewable energy in Canada and is focused on building a strong company based on a secure and sustainable supply of clean energy. Shear Wind has a two wind projects in stages of final development; 60 MW Glen Dhu Wind Park in Nova Scotia, and 100 MW Glenridge Wind Park in eastern Alberta.

Additional information on the various projects may be viewed on Shear Wind's website:

Shear Wind Inc. trades on the TSX-Venture as "SWX".

Forward-Looking Statements

This news release may contain certain forward-Looking Statements. All statements, other than statements of historical fact, included herein 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. However, we disclaim any intention and assume no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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