Glamis Resources Ltd.

Glamis Resources Ltd.

October 15, 2008 09:00 ET

Glamis Continues 100% Success Rate in SE Saskatchewan

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2008) -


Glamis Resources Ltd. ("Glamis" or the "Company") (TSX VENTURE:GLM.A) (TSX VENTURE:GLM.B) is pleased to provide an operations update on the Company's drilling and operating activities in southeast Saskatchewan.

Since the release of Glamis' second quarter results on August 15th, 2008, the Company has drilled 4 (3.5 net) successful horizontal wells in southeast Saskatchewan. The 50% working interest well at 1-15-7-1W2M is currently producing at a restricted rate of approximately 200 bopd. The second well, 8-2-7-1W2M has been flow lined to Glamis' recently completed battery. The other two wells (2-11 and 192/7-11-7-1W2M) are currently being tied-in and will be on production within the next several weeks. Glamis is currently producing approximately 490 boe/d (99% oil). During 2008, Glamis has drilled 8 (7.5 net) wells in southeast Saskatchewan maintaining a 100% success rate.

Glamis has secured a drilling rig to drill an additional four, 100% working interest horizontal wells in the fourth quarter of 2008. The first well of the program will be drilled at Arcola, SK and is expected to spud within 10 days.

Glamis continues to expand its land position in southeast Saskatchewan and has recently acquired an additional 320 acres in the Steelman area. The first location on these lands is budgeted to be drilled in the first quarter of 2009.

Glamis Resources Ltd. is a junior oil and gas company formed to generate and develop its own prospects, acquire oil and gas properties and participate with joint venture partners in oil and gas exploration and development in the Western Canadian Sedimentary Basin. The Company's Class A shares and Class B shares trade on the TSX Venture exchange under the symbols GLM.A and GLM.B. The Company currently has 19,644,987 Class A shares and 922,500 Class B shares outstanding.

FORWARD LOOKING STATEMENTS: Certain information regarding Glamis in this news release including management's assessment of future plans and operations, timing of drilling and tie-in of wells, productive capacity of the new wells and productive capacity from different wells, expected production rates, drilling success rates, dates of commencement of production, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, unexpected decline rates in wells, wells not performing as expected, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could effect Glamis' operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( Furthermore, the forward looking statements contained in this news release are made as at the date of this news release and Glamis does not undertake any obligation to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. The term "boe" may be misleading, particularly if used in isolation. A boe conversion of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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

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