Cloudbreak Resources Ltd.

Cloudbreak Resources Ltd.

September 16, 2010 19:13 ET

Cloudbreak Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2010) - Cloudbreak Resources Ltd. (the "Company") (TSX VENTURE:CDB)(PINK SHEETS:CUDBF)(FRANKFURT:C6K) will be holding its 2010 Annual General Meeting on October 20, 2010. It has now been advised that current directors Richard Macey and Craig Naughty have determined not to stand for re-election at the Meeting. Mr. Macey and Mr. Naughty committed to revitalizing the Company over the past year and have worked diligently in that regard. Having accomplished their objectives, they now intend to focus their time and energy on mineral exploration projects held by other companies in which they are involved. Cloudbreak greatly appreciates the contributions of Mr. Macey and Mr. Naughty during their tenure with the Company, and wishes them the very best in their other ventures. To ensure a smooth transition, the Board has appointed Peter Bryant as interim President and Chief Executive Officer, and has asked him to address the reconstitution of the Board. Mr. Naughty will remain as Chief Financial Officer until the conclusion of the Meeting.

With the foundation established over the past year, the Company has set the goal of developing two successful divisions – one in oil and the other in gold exploration. The principal near term focus of Cloudbreak will be the drilling of its newly acquired oil prospects in Manitoba and Saskatchewan. The Company is currently awaiting a report from Chapman Petroleum Engineering Ltd. of Calgary, Alberta regarding prioritization of drill targets on its oil and natural gas leases, in preparation for a drill program. 

The Company is also planning follow up exploration on four gold in soil anomolies indentified on the Lucky Strike and BRC gold projects, 6km and 12 km east of the Kinross Golden Saddle zone located in the Yukon's White Gold District, and is investigating the possibility of securing additional gold properties in the Yukon to build its gold exploration division. 

Additional news regarding these matters will be announced as it becomes available.


Peter Bryant, President & Director

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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