Channel Resources Ltd.
TSX VENTURE : CHU

Channel Resources Ltd.

June 13, 2007 12:00 ET

Channel Resources Ltd.: Change of Directors/Stock Options

KELOWNA, BRITISH COLUMBIA--(Marketwire - June 13, 2007) - Channel Resources Ltd. (the "Company") (TSX VENTURE:CHU) is pleased to announce that effective June 13, 2007 Mr. Louis W. MacEachern has been appointed a Director of the Company and Mr. Cyrus Ameli has been appointed a Director and Vice President, Corporate Affairs of the Company.

Mr. MacEachern is president and owner of Fortune Industries Ltd., a business management consulting firm based in Calgary, Alberta. He was the longest serving director of PetroKazakhstan Inc., a New York Stock Exchange listed company, until its sale in 2005 for CA$5 billion to China National Petroleum Corporation. Mr. MacEachern currently serves on the boards of BrazAlta Resources Corp., Central Alberta Well Services Corp. and Mundoro Mining Inc. He is also on the Board of Governors of the University of Price Edward Island, is a member of the Advisory Council at the Faculty of Management, University of Calgary and is a director of numerous non-profit and charitable organizations.

Mr. Ameli is a business professional with over fifteen years experience in corporate management, marketing and investor relations, focused over the last ten years on the mining sector. His areas of expertise include financial management and administration, corporate communications, public and investor relations. Mr. Ameli was Vice President of Communications and Corporate Secretary for Mundoro Mining Inc. from 2003 to late 2006, responsible for rapidly building an identity for the TSX listed company following its IPO and elevating its presence and valuation in the marketplace. He has provided consulting services to a wide variety of private and publicly traded companies in the areas of communications, marketing and community relations, and has spoken frequently at conferences and symposia on corporate disclosure standards and communications management. Mr. Ameli holds a Bachelor of Commerce degree from Concordia University and is a director of a national non-profit group based in Richmond, BC.

The Company thanks Messrs. Joe Kajszo, E.M. (Al) Gunderson and David H.R. Stowe, who have stepped down as Directors of the Company, to accommodate the change in management structure announced May 2, 2007 and the new appointments, for their dedicated years of service to the Company.

The Company also announces that a 250,000 stock option previously granted to an officer has been reduced to 100,000 options (same exercise price and expiry date) and a 400,000 stock option previously granted to a Director has been cancelled. In addition, a total of 350,000 new stock options have been granted to Directors pursuant to the Company's 2004 Stock Option Plan exercisable at a price of Cdn$0.13 per share expiring on June 12, 2012. Any securities issued on exercise thereof will be subject to a four-month hold period expiring October 13, 2007, and these options will vest as to 33% after six months, 33% after twelve months and 33% after eighteen months after which the options will be fully vested.

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

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