Canadian Quantum Energy Corporation
TSX VENTURE : CQM

Canadian Quantum Energy Corporation

September 28, 2011 11:36 ET

Canadian Quantum Announces Activity Update

CALGARY, ALBERTA--(Marketwire - Sept. 28, 2011) - Douglas Brett, President and CEO of Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX VENTURE:CQM) announced today that Canadian Quantum, with operating partner Sundance Energy Corporation, is preparing to drill an initial test well, on the recently acquired jointly held permit comprised of approximately 27 sections of land underlying the Alexander First Nations reserve. The test well is targeting the Alexander Sand, Detrital and Wabamin formations. The Alexander First Nation lands have the potential for multi-zone light oil and natural gas production at relatively shallow depths with existing infrastructure in the area. Drilling operations are scheduled to commence late November, 2011.

In addition, Canadian Quantum and its partners have commenced seismic operations on the Turin Project where an 11.5 km seismic program will be shot and the data acquired over the next 30 days as crews become available. Drilling of the initial test well at Turin could commence as early as December, 2011.

Douglas Brett, President and CEO of the Company stated, "Commencement of operations on both of our Alberta projects this fall will provide shareholders with relatively quick results on these two plays that are both targeting light oil."

About Canadian Quantum

Canadian Quantum is actively pursuing oil and gas opportunities in Western Canada and holds various interests in approximately 174,000 gross acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the 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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