Curlew Lake Resources Inc.

Curlew Lake Resources Inc.

January 18, 2011 09:10 ET

Curlew Lake Resources Inc. Announces it has Acquired Metallic & Industrial Minerals Rights on 24 Townships (552,000 Acres), of Land on the Peace River Arch Geological Formation in Alberta

LANGLEY, BRITISH COLUMBIA--(Marketwire - Jan. 18, 2011) - Curlew Lake Resources Inc. (the "Company") (TSX VENTURE:CWQ)(PINK SHEETS:CWLXF) announces it has acquired Metallic & Industrial Minerals rights on 24 Townships, an area of approximately 552,000 acres (223,000 hectares), of land on the Peace River Arch geological formation in north western Alberta. The lands will be operated as a joint venture, with Curlew holding a 50 percent interest in the joint venture with 2 private partners, and Curlew will be the initial operator of the exploration project. The lands lie north and west of the Clear Hills area and cover a structure known as Halverson Ridge and surrounding areas.

In order to promote exploration for and mining of non-energy minerals in Alberta, the Alberta Government is putting increased effort into basic geological information in support of the minerals industry. Since the 1960s Alberta Research Council, University of Alberta, Alberta Geological Survey and Alberta Energy have carried out studies in the Clear Hills area, including drilling programs. A patented process for processing the widespread iron ore located was developed by the Alberta Research Council in the 70s because of a strong demand for iron world-wide.

Subsequently, the Geological Survey of Canada and Alberta Geological Survey reconnaissance study of map area 84D, Special Report 071, on an area north of the Clear Hills iron ore deposit indicates anomalous gold values in a number of water sheds, with many values in excess of 1,000 ppb gold.

The Clear Hills area of Alberta has been a target for metallic and industrial minerals exploration for decades with renewed interest in recent years. Good progress has been made by two private exploration companies in establishing that the Clear Hills iron ore deposit is a world-class deposit and that significant values in vanadium and gold can be extracted from the iron ores. Recent recognition of vanadium as a battery improving metal and current prices for iron and gold has made the area extremely interesting geologically.

The Clear Hills Worsley, Whitemud River and Rambling Creek deposits are the subject of an ongoing development program to increase and establish reserves to National Instrument 43-101 reporting standards. The indicated 1.2 billion tons of iron ore reported as recent as 10 years ago are now being re-established to comply with today's regulatory requirements. We are advised plans are in place to construct a mini-mine and pilot demonstration plant in 2011.

Curlew Lake Resources Inc. has reviewed the public data on the iron ore deposits, which are associated with the Bad Heart formation, and the classification of the iron ore deposits as iron laden sedimentary deposits associated with deep faulting, hydrothermal deposition or fumarolic venting. We are of the opinion that the indicated billions of tons of iron ore may not come from just one source. The Bad Heart formation has been mapped and correlated with oil and gas exploration holes throughout the Halverson Ridge and Hotchkiss gasfield area covered by our mineral rights, suggesting the area has many similarities to the Clear Hills area. Although bog iron and Bad Heart sandstones are mapped in the area, the source of the iron, vanadium and the anomalous gold values remain unknown and will be the subject of our future exploration programs. The company and its partners will continue to assemble and review the excellent and extensive public data base, to be followed by on site confirmation of the indicated mineralization showing potential values in iron, vanadium, gold and other minerals.

Curlew Lake is also continuing with its oil and gas exploration activities, and will be drilling another potential oil well in central Alberta in the near future.

On behalf of the Board of Directors

Robert B. Pincombe, President

Warning: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release a result of numerous factors, some of which are outside the control of the Company.

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