Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

November 25, 2010 11:56 ET

Channel Resources Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2010) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) announces that it has granted stock options ("Options") to directors and consultants for the purchase of up to a total of 1,375,000 common shares of the Company at an exercise price of $0.40 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 Resources Ltd. is a Canadian TSX.V listed mineral exploration Company with an option to earn a 90% interest in the Tanlouka Gold Project in Burkina Faso, West Africa and an option to earn 100% in the Fox Creek Lithium / Potash Brine Project in Alberta. At Tanlouka, a 10,000 metre drilling program is underway to follow up on new mineralized zones that were discovered earlier in the year, and to follow up on targets for new discoveries. At Fox Creek, a bulk sample of brine sourced from producing natural gas wells is undergoing process testing to determine the most efficient method of producing various industrial minerals from the brine, including lithium carbonate, potash, bromine and borates. The Company is financed to advance both projects through their current programs, and is actively searching for additional opportunities to expand its project portfolio.

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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