Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

March 25, 2009 14:51 ET

Channel Resources Expands Fox Creek Permit Increasing Exposure to Alberta's Most Prospective Lithium Brine Targets

NI 43-101 Technical Report Preparation Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2009) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) announces that it has extended the permit boundaries for the Fox Creek Lithium Brine Project ("Fox Creek") announced on February 24, 2009, to encompass a larger area of reported high lithium concentrations in underlying brine aquifers.

The main target of the original Fox Creek permit has been the Beaverhill Lake aquifer as it is believed to contain some of the highest concentrations of lithium and the most favorable porosity and permeability characteristics in the region, based on data from the over 100 oil and gas wells that have penetrated the aquifer. The expansion of the project by 92 square kilometers to the southeast gives the Company access to that portion of the adjacent Leduc aquifer with a localized target of high lithium distribution as reported in the Alberta Research Council's study(1), which has been the basis of the Company's interest in the project. An assessment of the brine composition also indicates potential for the development of other commercial products with the lithium, including potash.

The new permit area is incorporated into the Fox Creek project under the same terms as announced previously, pursuant to which Channel has the right to earn 100% ownership interest. Channel believes that, with the acquisition of this new permit, it now controls the mineral rights over 369 square kilometers of the most prospective targets for lithium mineralization in Alberta.

The Company has commissioned Apex Geoscience Ltd. of Edmonton, Alberta to compile a NI 43-101 Technical Report on the project and expects this to be filed in the next month.

The above information has been prepared under the supervision of Colin H. McAleenan, P.Geo, who is the Company's "Qualified Person" under the definition of NI 43-101.

(1) Hitchon, B., Bachu, S., Underschultz, J.R., and Yuan, L.P. (1995): Industrial Mineral Potential of Alberta Formation Waters; Alberta Research Council Bulletin No. 62

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.

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