Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

April 04, 2006 13:56 ET

Channel Resources Ltd.: Appointment of Officer / Grant of Stock Options

KELOWNA, BRITISH COLUMBIA--(CCNMatthews - April 4, 2006) - Channel Resources Ltd. (the "Company") (TSX VENTURE:CHU) announces that Mr. Shawn VanderMeer, CA has been appointed Vice President, Chief Financial Officer and Controller. Mr. VanderMeer takes over from Mr. Richard C. Pierson who has resigned as Vice President and Chief Financial Officer to pursue another career path.

The Company has granted a stock option for 250,000 shares to Mr. VanderMeer pursuant to its 2004 Stock Option Plan (the "Plan") exercisable at a price of Cdn$0.29 per share expiring April 2, 2011. Any securities issued on exercise thereof will be subject to a four month hold period expiring August 4, 2006. This option will vest at 20% per year. Following the above grant, 2,930,000 options in aggregate are outstanding under the Plan.


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

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