The Estate of Donald McKinnon Announces the Acquisition of Common Shares of Canadian Orebodies Inc.

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2012) - The Estate of Donald McKinnon of 3130 Airport Road, Timmins, Ontario P4N 7H9 announces that on November 5, 2012, pursuant to the terms of the Haig Inlet Iron Project Purchase Agreement previously announced by Canadian Orebodies Inc. ("Orebodies") on June 15, 2011, he acquired 17,495,232 common shares, and options to purchase a further 1,025,000 common shares of Orebodies. As a result of this acquisition, The Estate of Donald McKinnon now owns and/or exercises control over 18,520,232 common shares of Orebodies representing 12.07% of the issued and outstanding common shares of Orebodies on a partially diluted basis. The applicable exemption pursuant to which the securities were issued is section 2.13 of National Instrument 45-106 Prospectus and Registration Exemptions. An Early Warning Report respecting this transaction has been filed on SEDAR and can be viewed at www.sedar.com.

For more information please visit www.canadianorebodies.com.