Canadian Orebodies Inc.
TSX VENTURE : CO

Canadian Orebodies Inc.

May 12, 2009 16:30 ET

Orebodies Exercises Option on Trump Property

TORONTO, ONTARIO--(Marketwire - May 12, 2009) - Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") is pleased to announce that it has entered into an option agreement with East West Resource Corporation ("East West") and contemporaneously therewith has exercised its option on East West's Trump property.

The Trump property consists of 96 claim units comprising 1,536 hectares in the James Bay Lowlands located 28 km south east of the Norton nickel-copper-cobalt-PGE deposit, and approximately 75 km south west of the Noront Eagle One nickel discovery.

Four separate EM (electromagnetic conductor) targets that are interpreted to represent conductive sulphide zones have been outlined by a VTEM survey on the property. These occur along a magnetic feature that is interpreted to be a folded ultramafic complex which is a favourable environment for nickel-copper, or VMS (volcanogenic massive sulphide) deposits.

Pursuant to the exercise of its option, Orebodies has acquired an 80% interest in the Trump property by paying East West $10,000 cash, issuing East West an aggregate amount of 280,000 common shares of Orebodies and by completing a VTEM airborne survey on the property. East West will hold a 20% carried interest in the property until a Bankable Feasibility study is produced pursuant to a Joint Venture Agreement entered into today with Orebodies.

The common shares of Orebodies issued to East West are subject to a hold period until September 13, 2009.

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

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