Canadian Quantum Energy Corporation

Canadian Quantum Energy Corporation

October 31, 2011 10:23 ET

Canadian Quantum Increases Working Interest at Turin and Announces Change to the Board

CALGARY, ALBERTA--(Marketwire - Oct. 31, 2011) - Douglas Brett, President and CEO of Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX VENTURE:CQM) announced today that it has high graded its Turin Prospect and increased its ownership percentage in all of the Turin Project lands to 45% while at the same time relinquishing its interest in 480 acres previously held. Canadian Quantum now has a 45% working interest in a total of 800 prospective acres at Turin.

Canadian Quantum's President and CEO, Douglas Brett stated "We are excited to have been able to increase our position in Turin and anticipate that the technical review and interpretation of our recently shot 2D seismic data will be completed by November 10th. We are confident that the newly acquired seismic data will assist us in optimally choosing the first targeted Sunburst formation, light oil, drilling location on our Turin Property."

The Company further announced that Mr. Neil Munro has resigned as a director of the Company. The Company is currently selecting a suitable candidate for appointment to the Board. The Company wishes to thank Mr. Munro for his dedication and service to Canadian Quantum.

About Canadian Quantum

Canadian Quantum is actively pursuing light oil opportunities in Western Canada. The Company now holds 800 gross acres (360 net acres) at Turin and 17,280 gross acres / 27 sections (8,640 net acres) on the Alexander First Nation lands in Central Alberta along with 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 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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