Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

April 01, 2009 13:37 ET

Channel Forms Advisory Committee to Board of Directors, Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2009) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) announces that it has formed an advisory committee to the board of directors to assist the Company in advancing the technical assessment and development of the Fox Creek Lithium Project and the Tanlouka Gold Project, together with its general corporate development strategy.

The first appointment to the committee is Mr. Richard Ameli of Calgary, Alberta. Mr. Ameli has over 35 years experience in project management, engineering and construction management, developing large and medium scale oil and gas projects in Alberta and internationally. He is a former chairman of the Canadian Petroleum Institute and member of the Project Management Institute. Career highlights include an engagement with EnCana Corporation as Oil Sands Project Manager and Team Lead with primary responsibility for the design and constructions of the Christina Lake SAGD (steam assisted gravity drainage) Thermal Project, a 70,000 bbl/d three phase development, including the implementation of a $120 million initial phase and the conceptual design and estimate for the second phase. With Petro Canada, Mr. Ameli was most recently Project Manager for the MacKay River debottlenecking project involving the addition of equipment as well as enhancement of the zero liquid discharge facilities, and previously was engaged as Regional Manager for Africa and Manager of International Operations. He has also been involved in plant engineering, procurement and construction management projects with Stearns-Rogers, Associated Kellogg, Acres, and Bantrel in Calgary.

Grant of Options

Channel also announces that it has granted stock options ("Options") to its directors, advisors, officers and consultants for the purchase of up to a total of 870,000 common shares of the Company at an exercise price of $0.10 per share. The Options have a term of five years, are subject to vesting provisions, and are governed by the Company's Stock Option Plan, pursuant to which Options may be granted up to a maximum 10% of the issued and outstanding common shares of the Company from time to time.

All shares issuable pursuant to the exercise of Options are subject to a four-month hold period commencing from the date the Options are granted.

Channel to Exhibit at Calgary Resource & Clean Energy Investment Conference, April 4 & 5, 2009

Channel will be an exhibitor at the Resource and Clean Energy Investment Conference, to be held at the Telus Convention Centre in Calgary on Saturday and Sunday, April 4 and 5, 2009. Shareholders and investors are invited to attend the conference and discuss Channel's progress and outlook with management by registering, for free, at www.cambridgeconferences.com.

Some of the statements contained herein are forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. 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: changes in the price of minerals, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result of new information or future events or otherwise. Further disclosure on risk factors is available in the Company's various corporate filings at www.sedar.com.

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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