Carlaw Capital III Corp.
TSX VENTURE : CW.P

August 15, 2008 14:17 ET

Carlaw Capital III Corp. Announces Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2008) - Carlaw Capital III Corp. ("Carlaw" or the "Corporation") (TSX VENTURE:CW.P) is pleased to announce that it has entered into a definitive acquisition agreement dated August 14, 2008 with JAB Resources Limited ("JAB"), an Australian private corporation, and Mr. Robert Murdoch, an officer and director of JAB, pursuant to which Carlaw will complete a business combination to acquire JAB (the "Proposed Transaction").

When completed, the Proposed Transaction will constitute Carlaw's qualifying transaction pursuant to the policies of the TSX Venture Exchange (the "TSXV"), and is subject to compliance with all necessary regulatory approvals and certain other terms and conditions. A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSXV.

ABOUT JAB RESOURCES LIMITED

JAB Resources, through its wholly-owned local subsidiary JAB RESOURCES SH PK, holds five exploration concessions in Albania. The concessions are prospective for chromite, platinum, gold, copper and nickel. JAB is currently undertaken drilling on the concessions, subsequent to a program of geological mapping, old data compilation and trench channel sampling. JAB's initial focus is the fast tracking of chromite mining within Exploration Concession 1125 Kalimash, located in north eastern Albania. JAB has identified two target areas where resource definition drilling is now in progress to define an open cut chromite resource in accordance with NI 43 101. Chromite is an essential component of stainless steel and the outlook for chromite over the next few years is that the metal will be in short supply.

JAB has an experienced board of directors comprising Rob Murdoch (Geologist) Pat Scott (Mining Engineer) P.Roy (Metallurgist and Business Manager). The Executive Chairman, Mr. Murdoch, has 40 years international mining and business experience and has been instrumental in the establishing and building of a number of ASX Listed companies. JAB's management is supported by a number of experienced Albanian geologists some with international experience, and with the approaching feasibility study JAB is now recruiting mining specialists.

Albania is emerging from decades of communist rule and with the assistance of various international agencies economic reform is underway. However, JAB management is aware of the ongoing political and economic risks of doing business in Albania.

JAB has 43,439,577 shares on issue and just over $A 3 million in cash resources to fund the company's activities during the rest of 2008.

ABOUT CARLAW CAPITAL III CORP.

Carlaw Capital III Corp. is a capital pool company ("CPC") formed under the TSXV CPC program.

Completion of the proposed transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the proposed transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a CPC should be considered highly speculative.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSXV does not accept responsibility for the adequacy or accuracy of this press release.

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