Curlew Lake Resources Inc.

Curlew Lake Resources Inc.

June 27, 2008 16:49 ET

Curlew Lake Resources Inc. Completes Private Placement and Updates Metis Project

LANGLEY, BRITISH COLUMBIA--(Marketwire - June 27, 2008) - Curlew Lake Resources Inc. (the "Company") (TSX VENTURE:CWQ)(PINK SHEETS:CWLXF) announces it has completed a private placement of 1,000,000 flow-through units to raise a total of $100,000.

The flow-through units will be priced at $0.10 per unit. The units will consist of one flow-through common share and one-half flow-through share purchase warrant. Each full share purchase warrant entitles the holder to acquire one flow-through common share of the Company for a period of twelve months at a price of $0.15 per share. Funds will be used for ongoing drilling and completion operations on our Saskatchewan oil projects.

In response to shareholder enquiries, the Company would like to update shareholders on the Metis project.

Recently the Company was notified that the Operator, Metis Moccasin Resources, has put out a notice of sale for their interest in this project. It is the opinion of management that the project may not be economically viable given the demands of the Metis groups involved.

In June 2006 an agreement was signed between the Metis Settlements General Council, Kikino Metis Settlement and Metis Moccasin Resources (the "Operator"). This agreement outlined the following 1. Metis Moccasin Resources would acquire the oil and natural gas rights from the Alberta Government. 2. the Kikino Settlement and General Council would provide surface access to the Project Area in return for certain royalties and other considerations, and 3. the Alberta Government would receive its normal royalties from production.

After the agreements were signed Frontier Engineering, under contract to the Operator, began site surveys. This program was stopped when the partners were informed that an additional fee was being demanded which was not in the signed master agreement. The Operator advised us that the local Kikino Council required a fee for "Loss of Traditional Land Use". The Kikino council believed this to be part of the deal although it is not in any of the signed documents. The fee for loss of traditional use was set at $3,000 per month per well whether that well was economically viable or not.

The Operator along with Curlew and Propel deem this unreasonable and unfortunately have not been able to proceed with the project given such terms. As the Operator is no longer willing to negotiate further with the local Metis Settlement, Curlew Lake management has established contact. We have been informed that the entire deal requires renegotiation, and that the Loss of Traditional Use Fee was still required.

Company management continues to explore participation in new projects and is assessing whether additional time and resources should be spent on this project. If this questionable new fee cannot be renegotiated, the Company will focus its efforts on recouping the money for minerals rights paid to the Government of Alberta. Meanwhile the Company will continue to examine new projects which are currently available, which have the potential to add substantial shareholder value.

Also in response to shareholder enquiries with regard to results of our 2007 exploration program on the Typhoon Gold Project in the Yukon, we refer them to a News Release dated March 4, 2008. Although no significant results were obtained, we had some encouraging results and intend to carry out exploration on new targets as soon as funds are available.

For additional information or to be added to the corporate mailing list please visit the following page

On Behalf of the Board of Directors

Robert B. Pincombe, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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