Canadian Shield Resources Inc.
TSX VENTURE : CSP

Canadian Shield Resources Inc.

April 25, 2007 10:46 ET

Canadian Shield Closes Acquistion of Anderson Peru Mining And Exploration

TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) - Canadian Shield Resources Inc. (TSX VENTURE:CSP) ("Canadian Shield" or the "Company") is pleased to announce the closing of its acquisition of Anderson Peru Mining And Exploration S.A.C. ("APMX"), from Phil Anderson, which has been accepted by the TSX Venture Exchange.

The Company has acquired 90% of the outstanding shares of APMX in exchange for 2,000,000 Canadian Shield treasury shares. These shares are subject to a four-month regulatory hold period. At the end of the four-month hold period 750,000 shares will be released and thereafter the balance of 1,250,000 shares will become free trading at the rate of 62,500 shares per month over the next 24 months. In addition, Phil Anderson, the recently appointed Vice-President, Exploration, can earn additional Canadian Shield common shares based on the achievement of specific performance milestones ("Performance Shares") over a five-year period, subject to shareholders' approval. Performance Shares equivalent to $160,000 at the then prevailing market price can be earned by Phil Anderson, if Canadian Shield acquires an interest in four specific exploration and mining properties. For new discoveries, new projects generated and securing joint ventures for Canadian Shield's properties, Phil Anderson can earn additional Performance Shares equivalent to $150,000 at the then prevailing market price. The Company has paid a finder's fee of 187,500 common shares of Canadian Shield to Buckingham Group Limited for the APMX acquisition, subject to a four-month regulatory hold period.

Through the acquisition of APMX, Canadian Shield has significantly augmented its South American property portfolio by adding three exploration projects, La Estrella Gold-Silver-Base Metal Property and Pampa Poroma Gold-Copper Property, in Peru, and Trol Gold Property in southern Chile. In addition to APMX properties, Canadian Shield holds 13,954 hectares in four gold and copper properties in southern Peru through its 90% owned-subsidiary Gallant Minerals Peru Ltd., S.A.

At La Estrella Property, Canadian Shield will be mobilizing a crew this week to re-map the geology, to complete additional surface sampling and in-fill geophysics. This work is expected to lead to drill targets based on a new geologic model once all information is synthesized. At Trol Property and Pampa Poroma Property, a number of potential joint venture partners have shown interest and conducted property visits (see Canadian Shield's press release of January 19, 2007 for further details regarding the APMX properties).

"We are adding top flight professionals to our technical team to ensure the highest quality work in the prospect evaluation process. Canadian Shield continues to seek additional projects that fit our business strategy. We now have an expanded portfolio of properties combined with an experienced local team on the ground to maximize our probability of exploration success." commented Phil Anderson, VP Exploration of Canadian Shield.

About Canadian Shield Resources Inc.

Canadian Shield is focused on the acquisition and exploration of strategically located precious metal and base metal properties in South America. The Company has advanced a portfolio of Peruvian properties under the Gallant Minerals acquisition in September 2004, the Humajala Gold Property, the Cerro Cori Copper-Gold Property, the Ccello Ccello Copper-Gold Property and the Pucarana Gold Property. Through the APMX acquisition, Canadian Shield has added three properties including La Estrella Gold-Silver-Base Metal Property and Pampa Poroma Gold-Copper Property in Peru and the Trol Gold Property in southern Chile. Canadian Shield will focus on project generation and joint venture opportunities to provide shareholders with interests in a broad portfolio of South American mineral properties. The Company's shares are listed on the TSX Venture Exchange (Trading Symbol CSP: TSX V). For further information, visit www.canadianshieldresources.com.

STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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