Glamis Resources Ltd.
TSX VENTURE : GLM.A
TSX VENTURE : GLM.B

Glamis Resources Ltd.

August 16, 2006 23:06 ET

Glamis Resources Ltd.: 2nd Quarter Results

CALGARY, ALBERTA--(CCNMatthews - Aug. 16, 2006) -

This document is not for dissemination or distribution in the United States

Glamis Resources Ltd. ("Glamis") (TSX VENTURE:GLM.A)(TSX VENTURE:GLM.B) is pleased to announce that it has filed with the Canadian securities regulatory authorities its unaudited 2nd quarter financial statements and related Management Discussion and Analysis for the period ended June 30, 2006 as required under National Instrument 51-102. These filings are available for review at www.sedar.com or www.glamisresources.ca.

Glamis was formed in late 2005 and completed its IPO in April 2006. Glamis is currently participating in oil and gas exploration, development and production activities in western Canada. In particular, Glamis, by way of its technically oriented team, is generating and developing its own prospects and participating with joint venturers and other industry partners in oil and gas exploration and development in the Western Canadian Sedimentary Basin.

By way of our previously announced acquisition of Breakside Energy, Glamis has become a fully operational oil and gas company, currently producing approximately 160 barrels of oil per day. With the addition of this acquisition, Glamis has a current drilling inventory of 8 -10 wells.

During the quarter, Glamis acquired, processed and interpreted approximately 13.5 square kilometers of 3D seismic data within our Hanna core area. Two firm drilling locations have been identified as a result of this data. These locations will be drilled prior to year end. Glamis also acquired approximately 1,900 acres of land in the Company's Hanna project area. One drilling location is currently being licensed on these newly acquired lands and is scheduled to be drilled during the third quarter.

During the month of July, Glamis drilled and cased two company operated wells - one at Michichi and one at Whitecourt. Both wells are currently awaiting completion operations.

This document contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

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

Contact Information

  • Glamis Resources Ltd.
    Brent McKercher
    President & CEO
    (403) 265-7200 ext. 222
    or
    Glamis Resources Ltd.
    Darwin Little
    VP Finance & CFO
    (403) 265-7200 ext. 225