Canadian Shield Resources Ltd.
TSX VENTURE : EXP

Canadian Shield Resources Ltd.

August 10, 2009 09:00 ET

Canadian Shield Shareholders Approve Amendment to Stock Option Plan

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - Canadian Shield Resources Ltd. (TSX VENTURE:EXP) ("Canadian Shield" or the "Company") is pleased to report that its shareholders approved an amendment to the Company's 2001 Stock Option Plan increasing the maximum number of common shares reserved by Canadian Shield for issuance pursuant to the 2001 Stock Option Plan to 1,530,007, approximately 20% of its issued and outstanding common shares.

At the Annual and Special Meeting of Shareholders held on July 28, 2009, the shareholders elected or re-elected Bernard Kraft, Philip W. Anderson, Michael P. Kraft, Gregory R. Harris, Sol Mednick and Keith A. Laskowski as directors of the Company.

The shareholders also approved:

- the reappointment of Collins Barrow Toronto LLP (formerly DMCT LLP), Chartered Accountants as auditors

- the shares for services arrangement with Philip W. Anderson, VP Exploration

More specific details of the matters approved at the Meeting are set forth in Canadian Shield's management information circular dated June 25, 2009 and posted on SEDAR at www.sedar.com.

Investors are invited to visit the Canadian Shield IR Hub at http://www.agoracom.com/IR/CanadianShield where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors may e-mail all questions and correspondence to EXP@agoracom.com where they can sign up for the investor e-mail list to receive press releases and updates in real time.

About Canadian Shield Resources Ltd. (TSX VENTURE:EXP)

Canadian Shield acquires and explores strategically-located precious and base metal properties in South America. The Company controls a portfolio of eight exploration properties located in Peru and Chile. Canadian Shield will continue to 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 TSX VENTURE:EXP). Further information is available at Canadian Shield's website: 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. THE FOLLOWING ARE IMPORTANT FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS: RISKS INHERENT IN EXPLORATION; RISKS ASSOCIATED WITH DEVELOPMENT, CONSTRUCTION AND MINING OPERATIONS; CHANGES IN THE WORLD WIDE PRICE OF COMMODITIES; THE UNCERTAINTY OF FUTURE PROFITABILITY AND THE UNCERTAINTY OF ACCESS TO ADDITIONAL CAPITAL.

NEITHER 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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