Canadian Quantum Energy Corporation
TSX VENTURE : CQM

Canadian Quantum Energy Corporation

July 26, 2011 07:30 ET

Canadian Quantum Energy Corporation Announces Acquisition of 50% Interest In P+NG Mineral Rights Underlying The Alexander First Nations Reserve

CALGARY, ALBERTA--(Marketwire - July 26, 2011) - Douglas Brett, President and CEO of Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX VENTURE:CQM) announced today that the Company has acquired a 50% interest in an Indian Oil and Gas Canada Permit with Sundance Energy Corporation acquiring the other 50%. The acquisition covers all available P+NG rights underlying the Alexander First Nations Reserve, located in Central Alberta. The Alexander First Nation Permit is comprised of 6,946.17 gross hectares (17,365 gross acres) or approximately 27 sections of land. Sundance, as operator, is in the process of configuring an extensive 3D seismic program that will be shot as soon as possible. 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.

Canadian Quantum's President and CEO, Douglas Brett stated "We are excited to have acquired such a large land position in an area where another oil and gas company has recently announced a discovery well from a zone that we have mapped as being potential on the Alexander First Nation lands."

About Canadian Quantum

Canadian Quantum is actively pursuing oil and gas opportunities in Western Canada and continues to hold 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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