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

Glamis Resources Ltd.

March 26, 2007 09:00 ET

Glamis Resources Ltd. Operations Update

CALGARY, ALBERTA--(CCNMatthews - March 26, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

Glamis Resources Ltd. ("Glamis") (TSX VENTURE:GLM.A) (TSX VENTURE:GLM.B) is pleased to provide an operations update for the 1st quarter of 2007. Glamis is currently producing 255 boepd. An estimated 85 boepd are presently being tied in and are expected to be on production during the first week of April, 2007.

Central Alberta:

During Q1 Glamis drilled 2 exploratory wells in the Hanna area. The initial exploratory well was drilled, cased and production tested at a rate of 46 boepd (23 boepd net). As part of the same drilling program a second exploratory well was also drilled, cased and production tested at a rate of 45 boepd (27 boepd net). Both wells are in the process of being tied in and are expected to be on production during the first week of April, 2007. The two wells are expected to produce at a combined rate of 90 boepd (50 boepd net to Glamis).

Peace River Arch

Tie in operations on the Glamis Boundary Lake discovery well are nearing completion with production anticipated to commence during the first week of April, 2007. This well is expected to produce approximately 70 boepd (35 boepd net to Glamis). Glamis' previously announced 3D seismic program over the discovery well is in the final stages of completion. Processing and interpretation are expected to be complete by mid April, 2007.

Glamis also participated in a non-operated new pool wildcat during the first quarter of 2007. This exploratory well proved to be non economic and was subsequently plugged and abandoned.

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. Glamis currently has 12,200,000 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 exhausted. 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 (www.sedar.com). 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 TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Glamis Resources Ltd.
    Mr. Brent McKercher
    President & Chief Executive Officer
    (403) 265-7200 ext. 222
    (403) 265-7150 (FAX)
    Email: brentm@glamisresources.ca
    or
    Glamis Resources Ltd.
    Mr. Darwin Little
    Vice President, Finance & Chief Financial Officer
    (403) 265-7200 ext. 225
    (403) 265-7150 (FAX)
    Email: darwinl@glamisresources.ca