Cygam Energy Inc.
TSX VENTURE : CYG

Cygam Energy Inc.

March 23, 2011 10:46 ET

Cygam Energy Inc. Announces Corporate Appointment

CALGARY, ALBERTA--(Marketwire - March 23, 2011) - Cygam Energy Inc. ("Cygam" or the "Corporation") (TSX VENTURE:CYG) is pleased to announce the appointment of Mr. Alec Silenzi to the Board of Directors of Cygam, with immediate effect. Mr. Silenzi (age 41) is a Partner in the Calgary office of the Canadian national law firm Gowling Lafleur Henderson LLP. He is a corporate finance, M&A and securities lawyer, whose practice includes a focus on domestic and international business law, primarily for clients in the energy industry. Mr. Silenzi recently completed a mandate where he acted for several years as counsel, corporate secretary and compliance officer for a mid-size international E&P company operating in East Africa. Mr. Silenzi has been practising business law for over 15 years and brings domestic and international legal and business experience to Cygam.

In addition, Cygam announces that, after 5 years of loyal services to Cygam, Mrs. Neli da Silva Rigo, the widow of Dr. Fabrizio Rigo and the major shareholder of Cygam, has resigned from the Board of Directors with immediate effect. Mrs. Rigo served as Chairman of the Board from March 2006 until June 2010, when she became a non-executive Director.

Giuseppe Rigo, Chairman and CEO of Cygam, commented:

"Mrs. Neli Rigo has played a significant role in Cygam's development over the last 5 years. Her experience as an international natural resources businessperson has been of immense assistance to the Corporation throughout her tenure. We thank Neli for her many years of dedicated service on the Board.

On behalf of the Board and our shareholders, I'm delighted to welcome Alec to the team as a non-executive Director. Alec brings a wide range of skills and experience to Cygam and I believe that his experience in corporate transactions and financing will contribute significantly to the next stage of Cygam's development. The appointment underlines our ambition and intention to continue to grow Cygam's Exploration and Production business over the coming years and significantly increases our capacity for deal-making and execution".

CYGAM is a Calgary based exploration company with producing exploration properties in Canada and extensive international exploration permits. The main focus of the Corporation is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in six exploratory permits in Italy and four exploratory permits in Tunisia encompassing approximately over 3.5 million gross acres (approximately 1.8 million net acres before pending farm-outs). Visit the CYGAM website at www.cygamenergy.com for more information about CYGAM.

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

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