Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

April 25, 2013 12:24 ET

Channel Resources Ltd. Adopts Advance Notice Policy

2013 Annual General and Special Meeting Scheduled for June 26, 2013

Upcoming Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2013) - Channel Resources Ltd. ("Channel" or the "Company") (TSX VENTURE:CHU) announces that its board of directors has adopted an advance notice policy (the "Policy") in order to facilitate an orderly and efficient annual general or, where the need arises, special meeting, to ensure that all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees, and to allow shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation.

The Policy, among other things, fixes a deadline by which holders of record of common shares of Channel must submit director nominations to the Secretary of the Company prior to any annual or special meeting of shareholders and sets forth the specific information that a shareholder must include in the written notice to the Secretary of the Company for an effective nomination to occur. No person will be eligible for election as a director of the Company unless nominated in accordance with the provisions of the Policy.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The full text of the Policy is available under the Company's profile at www.sedar.com and on the Company's website at http://www.channelresources.ca/i/pdf/CHUadvancenoticepolicy.pdf or upon request by contacting the Company's Corporate Secretary at (604) 684-7098.

The Policy is in full force and effect as of April 23, 2013. In accordance with the terms of the Policy, the Policy will be put to shareholders of the Company for approval at the next annual general and special meeting (the "Meeting"), which is scheduled for June 26, 2013. If the Policy is not confirmed at the Meeting, the Policy will terminate and be of no further force and effect following the termination of the Meeting.

Changes in Chief Financial Officer and Corporate Secretary Roles

Ms. Christina Yip will be stepping down from the roles of Chief Financial Officer ("CFO") and Corporate Secretary effective June 6, 2013 to pursue other opportunities. Ms. Yip will continue to be available to the company on a consulting basis as the CFO role transitions back to Mr. Cyrus Ameli, a director and the Company's Senior Vice President, who previously held the position of CFO and Corporate Secretary from 2007 to 2011. The Board would like to take this opportunity to thank Ms. Yip for her many contributions to the development of the Company over the past two years and wishes her well in her next venture.

Some of the statements contained herein are forward-looking statements involving 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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