A South African mine has developed an innovative method for shaft sinking by combining technologies for soft ground digging, drilling, blasting and raise-boring. This technique may see a shift away from traditional drilling and blasting methodologies due to its ability to enhance safety and optimise the productivity of the shaft sinking process. Mining infrastructure construction and services company Murray & Roberts worked on this ground-breaking project. They are also looking at utilising drilling techniques in blind sunk shafts from the civil engineering industry for shaft sinking projects in Africa. This technique has proven to significantly lower capital outlay in the coal gold and platinum industries.

In recent research on mining opportunities in Africa, conducted by IQPC, the current economic climb is seeing a surge of underground shafts enquiries from contractors all over Africa, from South Africa to Zambia. Mining companies are also feeling a sense of urgency to get their projects that were stalled during the economic down turn off the ground.

A common thread shared by the respondents was the perceived lack of specific trade information required in order to run more effective drilling and blasting operations. The other themes that came up were the challenges of reducing downstream costs and energy requirements, best practice for safety and learning about the latest developments in innovative technology. To respond to the want for the latest drill and blast knowledge and to aid mining companies in re-starting and re-focusing their operations, tangible and cost-effective solutions will be introduced next month at Drill and Blast Africa Summit that will be showing the way by presenting learnings from African mega mines.

About IQPC:

For over thirty years, IQPC has helped the world’s leading corporations solve their business challenges through the sharing of practical industry solutions and global best practice. In the process, the company has built a formidable reputation for quality and value. The world’s most progressive companies have benefited from IQPC’s unrivalled global reach, which has connected international expertise with regional and local leaders.

For information about Drill and Blast Africa Summit, 7-8 June 2011 at Radisson Blu, Johannesburg, South Africa, visit http://www.drillandblastafrica.com; Alternatively contact: Katia Andrejev, Marketing Manager, IQPC at katia.andrejev@iqpc.com or call; +9714-446-2748

Source: IQPC Middle East

For details, view the entire article by subscribing to Industrial Info’s Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=176988, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR), with world headquarters in Sugar Land, Texas, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR’s quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what’s happening now, while constantly keeping track of future opportunities. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

- Researched by Industrial Info Resources (Sugar Land, Texas) -

“Alcan Cable’s new track resistant overhead line wire products were developed to address a common line maintenance problem our utility customers experience on a regular basis,” said Steve Waller, Director of Utility Sales, North America.  “As a result of our close working relationships with our customers, we offer cost-effective solutions to remedy such issues as tree contact with power lines.”

Track resistance helps to preserve the life of the covering from electrical degradation that is caused by contact with trees on an energized covered conductor.  The conductor acts as a capacitor and when a tree contacts the power line, the capacitor is discharged.  This repeated discharging current can damage the covering over time.

The special heavy wall, two-layer, track resistant cables are available in thermoplastic 75°C HDPE (black) and thermoset 90°C XLPE (grey) coverings and typically range between 150 to 175 mils.  These insulations can be applied to All Aluminum Conductor (AAC), All Aluminum Alloy Conductor (AAAC), and Aluminum Conductor Steel Reinforced (ACSR) cables as listed in the Aluminum Association Publication 50 – Code Words.

The new track resistant products comply with ANSI/ICEA S-70-547 (Standard for Weather-Resistant Polyethylene Cover Conductors) and the special coverings meet both ASTM 2303 Inclined Plane and ASTM D3132 Dust-and-Fog standards.

With a history spanning over 100 years, Alcan Cable provides its customers with high quality products and outstanding customer service.  As a leading manufacturer of aluminum cable, and rod and strip products, Alcan Cable serves the utility, electrical distribution, OEM and renewable energy markets.  Headquartered in Atlanta, Georgia, Alcan Cable has five manufacturing operations – four in North America and one in China.

About Rio Tinto

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tinto’s business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.

SOURCE Alcan Engineered Products

CONTACT:
Alcan Cable, Atlanta
Rhonda Buckley
Tel.: +1 770 392 2381
Website:   www.cable.alcan.com

March 25, 2011, VANCOUVER,(Coal Geology)- Anooraq Resources Corporation (“Anooraq” or the “Company”) (TSXV: ARQ) (NYSE: ANO) (JSE: ARQ) announces production from the Bokoni Platinum Mines (“Bokoni”) and its financial results for the three and twelve months ended December 31, 2010. This release should be read with the Company’s Financial Statements and Management Discussion & Analysis, available at www.anooraqresources.com and filed on www.sedar.com. Currency values are presented in South African Rand (ZAR), Canadian dollars (C$) and United States dollars (US$).

Key features for the quarter and financial year:

• 4E oz produced up by 7% quarter-on-quarter to 30,776 oz¹, year-on-year production remained steady at 116,164 oz
• Tonnes milled up by 10% quarter-on-quarter to 278,242 tonnes, 11% year-on-year increase to 1,044,084 tonnes
• Operational stability achieved at concentrator, stockpile depleted
  • recovered grade improved 4% in quarter to 4.17 g/t 4E
• Improved revenues reflect improving PGM market conditions
• Fatality suffered at Middelpunt Hill shaft

The final quarter of the 2010 financial year maintained the year’s focus on production, in line with the Company’s Phase 1 growth plan.

Philip Kotze, President and Chief Executive Officer (“CEO”) of Anooraq, commented:

“The 2010 year has been one of mixed performance for Anooraq and Bokoni. Many of the managerial and operational changes implemented at Bokoni post the takeover in July 2009 have been successful, and the improved mining performance is testament to the validity of our on-mine strategy. We continue to focus on operational performance, with improved mining flexibility key to our ability to deliver results. The concentrator upgrade took longer than we anticipated but we are starting to see results with higher and more consistent yields. Importantly, we have made enormous strides in transforming our operating culture and in embedding many basic good practices in terms of mining and development, efficiencies, planning and cost control, into the running of the Company.”

Review of operational and financial performance

Safety

The Bokoni lost-time injury frequency rate (“LTIFR”) decreased from 2.46 to 2.32 hours per 200,000 hours worked quarter-on-quarter, a pleasing downward trend. Previous LTIFR statistics have been restated to include serious accidents. We regret to report that there was one fatal accident during the quarter, on 7 November 2010 at Middelpunt Hill shaft.  Seven shifts were lost as a result of stoppages in terms of section 54 of the South African Mine Health and Safety Act (Act 29 of 1996) (“Section 54 stoppages”). As a result, Anooraq is focusing on managing safety proactively through an internal safety audit programme and the execution of the Rethusanang training programme.

Production

Mining activities delivered a mixed performance with tonnes produced decreasing by 9% quarter-on-quarter to 258,033 tonnes, mainly as a result of Section 54 stoppages.  Development rates dropped by 22% as a result of infrastructural development around the main stations and the impact of Section 54 stoppages. However, tonnes milled increased by 10% during the quarter to 278,242 tonnes, with head grade and recovered grade rising by 6% to 4.41g/t 4E and 4% to 4.17g/t 4E respectively. Metal production during the quarter increased by 7% to 30,776 4E ounces (Q3 2010: 28,868 4E ounces).The steady production rate across the quarter reflects the operational stability achieved at the concentrator post the automation transition in September 2010. An adjustment was made to the ore stockpile assessment during the quarter, resulting in a write down of CAD$3.8 million (ZAR26 million), which had a negative impact on operating costs and operating profit during the fourth quarter.

A summary of the metal produced at Bokoni for the quarter is as follows:

The year-on-year comparison is as follows:

Production has remained steady across the financial year, with an 11% increase in tonnes milled to 1,044,085 tonnes (2009: 943,403 tonnes). This was tempered by a 4% decrease in recovered grades as a result of the concentrator automation transition completed during the year and accompanying processing downtime which had a negative impact on recoveries.

The Company’s primary development focus remains to create mining flexibility, as evidenced through the deployment of dedicated re- and sub-development, and equipping crews. The mine’s improved mining layouts are mostly complete and the new TM3 equipment is now on site which will improve vehicle availability and efficiencies at our trackless operations. This dedicated development focus at the operations, employed during the past year, should yield better operational results for Bokoni moving into the second half of 2011, once the effects of such development efforts to generate additional immediately mineable stopes (IMS) take full effect.

Costs

Total on mine operating costs quarter-on-quarter (including treatment charges) rose 2% to ZAR1,058/tonne, however stripping out the stockpile-associated  cost writeback provides a closer-to-target ZAR964/tonne operating cost figure. The per ounce operating costs rose 6% and 12% respectively to ZAR9,566/4E oz (US$1,386/4E oz), reinforcing ZAR strength through the quarter.

Revenue

Revenue increased by 25% quarter-on-quarter to C$43,244 (22% in ZAR terms to ZAR296,177) in Q4, reflecting the higher basket price despite a stronger rand. The US$/PGM 4E ounce price increased by 13% during the quarter to US$1,357, while the ZAR/US$ exchange rate strengthened by 6%.

Revenue for the 2010 financial year rose to C$148,287, reflecting the 43% increase in the US$/PGM 4E ounce basket price over the period to US$1,257. The ZAR strengthened some 13% against the US dollar over the period, therefore limiting the impact of the rising ZAR basket price.

Profitability

Bokoni mines returned an operating profit in the quarter, however the loss after tax on a consolidated level increased by 15% to C$32,401 (ZAR223,733).The higher loss after tax is due to an increase in interest expenses as a result of additional facility draw downs to fund Bokoni’s capital expansion programme and a prior year deferred tax adjustment on mineral rights.

Capital expenditure, cash and facilities

Bokoni remains in a high capital growth expansion phase through to 2014 with project expansions continuing at the Brakfontein Merensky and Middelpunt Hill UG2 shaft operations.  Capital expenditure for the quarter was C$11 million (ZAR74.5 million), with drawn facilities amounting to C$57.2 million (ZAR378.5 million) and available facilities as at December 31 of C$56.1 million (ZAR371.5 million).

Results presentation: conference call details

Philip Kotze, President and CEO of Anooraq, will host a conference call to discuss the Company’s operational and financial results for the quarter ended December 31, 2010 at 10:00 Eastern Standard Time (“EST”) (16:00 Central African Time (“CAT”)) on Thursday, March 24, 2010. The dial-in details for the conference call are listed below. A playback will be available for three days after the call on this website. The presentation to be used during the call will be available for downloading on the Company’s website at 09:45 EST (15:45 CAT) on Thursday, March 24, 2010.

Conference call

Playback facility

For and on behalf of the Board

Philip Kotze, President and Chief Executive Officer

De Wet Schutte: Chief Financial Officer

Cautionary and forward-looking information

This document contains “forward-looking statements” that were based on Anooraq’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These include but are not limited to:

• uncertainties and costs related to the Company’s exploration and development activities, such as those associated with determining whether mineral resources or reserves exist on a property;
• uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project; uncertainties related to expected production rates, timing of production and the cash and total costs of production and milling;
• uncertainties related to the ability to obtain necessary licenses, permits, electricity, surface rights and title for development projects;
• operating and technical difficulties in connection with mining development activities;
• uncertainties related to the accuracy of our mineral reserve and mineral resource estimates and our estimates of future production and future cash and total costs of production, and the geotechnical or hydrogeological nature of ore deposits, and diminishing quantities or grades of mineral reserves;
• uncertainties related to unexpected judicial or regulatory proceedings;
• changes in, and the effects of, the laws, regulations and government policies affecting our mining operations, particularly laws, regulations and policies relating to
  • mine expansions, environmental protection and associated compliance costs arising from exploration, mine development, mine operations and mine closures;
  • expected effective future tax rates in jurisdictions in which our operations are located;
  • the protection of the health and safety of mine workers; and
  • mineral rights ownership in countries where our mineral deposits are located, including the effect of the Mineral and Petroleum Resources Development Act (South Africa);
• changes in general economic conditions, the financial markets and in the demand and market price for gold, copper and other minerals and commodities, such as diesel fuel, coal, petroleum coke, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar, Canadian dollar and South African rand;
• unusual or unexpected formation, cave-ins, flooding, pressures, and precious metals losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks);
• changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates; environmental issues and liabilities associated with mining including processing and stock piling ore;
• geopolitical uncertainty and political and economic instability in countries which we operate; and
• labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.

For further information on Anooraq, investors should review the Company’s annual Form 20-F filing with the United States Securities and Exchange Commission www.sec.com and home jurisdiction filings that are available at www.sedar.com.

¹4E consists of platinum, palladium, rhodium and gold

SOURCE Anooraq Resources Corporation

CONTACT:

on Anooraq and its South African properties, please visit our website or call investor services in South Africa on +27 11 883 0831 or in North America on +1 800 667 2114.

Anooraq Resources Corporation
Philip Kotze
President and Chief Executive Officer
Office: +27 11 779 6800
Mobile: +27 83 453 0544

Joel Kesler
Executive: Corporate Development
Office: +27 11 779 6800
Mobile: +27 82 454 5556

Russell and Associates
Charmane Russell / Nicola Taylor
Office: +27 11 880 3924
Mobile: +27 82 372 5816 / +27 82 927 8957

Macquarie First South Advisers
Melanie de Nysschen / Annerie Britz / Yvette Labuschagne
Office: +27 11 583 2000

By optioning Boss Mountain, NMC Resource will execute its stated intention to do acquisitions in North America, with a view to producing mineral commodities to compliment production from its NMC Moland molybdenum mine in South Korea. The Property was operated sporadically by Noranda in the 1960′s, 70′s and 80′s mainly as an underground mine and produced molybdenum (“Mo”) ore at average grades ranging from 0.189% Mo (0.315% MoS2) to 0.26% Mo (0.43% MoS2). It was closed in 1983 due to low Mo price and has not been in operation since.

When Noranda terminated mining operations, there was still a considerable resource (non-compliant with NI 43-101) remaining to be exploited. NMC Resource intends to confirm and expand upon this resource with its planned exploration programs. The surface area adjacent to three small open pits was drilled by Noranda to test the extent of near surface mineralization and this zone will be examined further by NMC Resource. The model that NMC Resource is working towards is an open pit mine with grades consistent with those currently being mined in similar operations.

Mr. Yoo Sup Han, President and CEO of NMC Resource says, “We visited the Boss Mountain mine site and reviewed all maps and data available. We also checked the existing tailings dam with a consultant, which has been well taken care of and has capacity for additional tailings. We see this as great opportunity for our company to develop a new molybdenum operation at Boss Mountain. We intend to drill and define the resource as soon as we can.”

The Property is located approximately 10 kilometres west of Hendrik Lake, BC within Cariboo Mining District. It has road access and a power line. Certain permits are still in place for the Property.

Under the terms of the LOI, Xstrata will grant to NMC Resource an option (the “Option”) to earn a 100% interest in the Property during an option period of three years by: (i) incurring expenditures on the Property in an aggregate amount of not less than CAD$1,000,000 and up to CAD$3,000,000; and (ii) conducting drilling on the Property of no less than 10,000 meters, at least 50% of such drilling to be situated in the areas delineated and marketed as “target zones” to be mutually identified and agreed upon.

Additionally, Xstrata will retain the right to back-in (the “Back-in Right”) to a 49% interest in the existing deposit on the Property (the “Existing Deposit”) for payment equal to: (i) 2 times the expenditures incurred by NMC Resource on the Existing Deposit if the Back-in-Right is exercised on or prior to the said expenditures totaling up to CAD$10,000,000; and (ii) 3 times the expenditures incurred by NMC Resource on the Existing Property if the Back-in-Right is exercised on or after the said expenditures in excess of CAD$10,000.000. Upon the exercise of the Back-in Right, a joint venture will form between Xstrata and NMC Resource with respect to the Existing Deposit. In the event Xstrata does not exercise the Back-in-Right, then NMC Resource will pay to Xstrata: (i) an option exercise payment of CAD$5,000,000 in equal installment over a period of five years, to commence after the payback of development costs on the Property has been achieved; and (ii) a 2% net smelter return royalty (the “Royalty”) with respect to the Property.

Xstrata will retain the right to back-in to a 51% interest in any new deposit (excluding the Existing Deposit and over a threshold of 500,000 tonnes of copper equivalent) for payment of CAD$10,000,000. Upon the exercise of the New Deposit Back-In Right, a joint venture will form between Xstrata and NMC Resource. The exercise of the New Deposit Back-In Right will effectively extinguish any Royalty obligations with respect to the new deposit.

NMC Resource Corporation: NMC Resource has been producing molybdenum from its NMC Moland Mine in South Korea since April 2010. NMC Resource is a part of Dong Won Resource Group in South Korea. Dong Won Resource Group has been involved in production of iron, gold, coal, oil and gas since 1962.

NMC RESOURCE CORPORATION

Yoo Sup Han; President, Chief Executive Officer and Director

Forward-Looking Statements: This news release includes certain forward-looking information and forward-looking statements (collectively “Forward-Looking Statements”) concerning the future performance of the Company’s business, operations and financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Specifically, this news release includes Forward-Looking Statements regarding NMC Resource’s plan to “execute its stated intention to do acquisitions in North America, with a view to producing mineral commodities to compliment production from its NMC Moland molybdenum mine in South Korea”, NMC Resources’ intention to “confirm and expand upon this resource with its planned exploration programs”, NMC Resources’ plans “to develop a new molybdenum operation at Boss Mountain” by intending to “drill and define the resource as soon as we can”, NMC Resource’s option to earn a 100% interest in the Property during an option period of three years and that Xstrata will retain the right to back-in with respect to the Existing Deposit and the New Deposit. Forward-Looking Statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-Looking Statements are based on the current opinions and expectations of management. All Forward-Looking Statements are inherently uncertain and subject to a variety of risks and uncertainties, including the speculative nature of mineral exploration and development generally and specifically in respect of the interpretation of the geology, continuity, grade and size of mineral deposits, unanticipated operational or technical difficulties, fluctuating commodity prices, competitive risks and the availability of financing, changes in laws or regulations, changes in the financial markets and changes in general economic conditions, as described in more detail in our recent securities filings available at www.sedar.com. Such Forward-Looking Statements are based on a number of assumptions, including but not limited to the level and volatility of the price of molybdenum, the availability of financing, the accuracy of reserve and resource estimates and the assumptions on which those estimates are based and the ability to achieve and maintain certain operational efficiencies. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual events or results may differ materially from those expressed or implied in the Forward Looking-Statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these Forward-Looking Statements, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Scheduled to commence in April 2011, the Phase I exploration program will consist of 12,000 feet of underground drilling from stations within the Crescent Silver Mine and 25,000 feet of surface drilling from platforms on the original 143 hectare (353 acre) property, as well as on the newly acquired, 236 hectare (620 acre) contiguous Bunker Claims (see news release dated December 14, 2010). The Bunker Claims’ 1.2 kilometer strike extension of the Crescent Mine’s silver-bearing Alhambra and South veins, which strike east-west on the newly acquired property, has never been drilled.

Located between two world-class silver producers, the Sunshine and Bunker Hill mines, with combined silver production of approximately 500 million ounces, the Crescent Silver Mine, historically the highest grade producer in the region, is one of the few properties in the Silver Belt that remains highly prospective yet relatively unexplored and un-mined. From 1917 to 1981, under the ownership of the Bunker Hill Mining Co., the Crescent Silver Mine produced 25 million ounces of silver from four main mineral structures at an average grade of 27.3 opt (SRK Consulting National Instrument 43-101 report, March 1, 2010). From 2007 to 2009, approximately CAD$13.5 million in exploration expenditures were incurred by new owners, targeting just two mineralized structures, the Alhambra and South veins, resulting in an indicated resource of 6.1 million ounces of silver (324,000 tons grading 18.7 opt silver), and inferred resources of 4.1 million ounces silver (211,000 tons grading 19.5 opt silver). The current resource estimate includes only mineralization above the 2,450 ft evaluation, the “upper country”, within two of the five mineral structures, the Alhambra and South veins, with none of the historic production areas located within the areas of the NI 43-101 resource estimate. Furthermore, while the Alhambra Vein is confined at depth, the South Vein remains open at depth and was never mined.

The objective of the Company’s Phase I exploration program is to increase resources within the mine, along with obtaining new geological data on near-surface structures on the newly-acquired Bunker Claims. The approach will be to drill test from underground stations, presently being prepared at a depth of 2,300 feet below surface with the objective of proving the continuity of the South and Alhambra veins. The indicated resources of the upper reaches of these veins are in the current mine planning development stage for the first three years of production. Underground drifting on the South Vein from deeper levels, provided by the currently-progressing decline, will continue to provide much-needed bulk samples deeper within the system.

The objective of the underground drilling on the South Vein will be to extend the indications of silver mineralization to a level which is twice as deep as the currently-identified resource, up to 2,600 feet below surface. Historic mining at the Crescent Mine reached a vertical depth of 6,500 feet, indicating that the vein-hosted silver deposits have great depth potential. Fan drilling will test the depth extension of known silver-bearing veins during the course of the year. Surface drilling will test the numerous new targets from six platforms on the western extension of the system towards Bunker Hill and should provide a constant stream of information as the year progresses.

Charles Pitcher, Chief Executive Officer, commented, “With 80 years of ‘Silver Belt’ experience within the Crescent Silver Mine geological and engineering staff we are confident of obtaining a continuing flow of geological data that would enhance our historical knowledge and resource improvements. Our current resource is now actually in the bulk sampling stage and mine planning is well underway. We anticipate a very successful year both in exploration and underground development.”

ABOUT UNITED MINING GROUP

United Mining Group is a vertically integrated mining company with operations in Idaho, USA. The Company is currently earning, through development and operations, an 80% interest in the Crescent Silver Mine project in Idaho’s prolific Silver Belt – directly between two of the world’s historically largest silver producing properties, the Sunshine and Bunker Hill mines. The Company also offers a full suite of mining services including contract mining and mine machine repair and fabrication services to silver miners in the district. UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of the highly-prospective current land position at the Crescent Silver Mine project and through the acquisition of additional precious metals interests. The Company trades on the Toronto Stock Exchange under the symbol “UMG”. For more information about the Company, please visit: www.unitedmininggroup.com .

In compliance with NI 43 101, Lawrence Dick, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.

ON BEHALF OF UNITED MINING GROUP, INC.

Charles Pitcher, Chief Executive Officer

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company’s actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company’s control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company’s filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

GLJ ascribed Company interest reserves of 7.65 billion cubic feet equivalent (“BCFe”) of proved reserves and proved plus probable reserves (“2P”) of 22.01 BCFe on its Montney lands. Company Interest reserves means the Company’s working interest share before deduction of royalties and including any royalty interest of the Company. The undiscounted projected net cash flow is estimated to be $17.19 million from the proved reserves and $64.28 million from the 2P reserves. The present value discounted at 10% (“PV10″) of the proved reserves is $4.91 million and $19.07 million for the 2P reserves. 77.5% of these 2P reserves were attributable to the Monias property and 22.5% to the Peace River property. The Company interest reserves as reported by Netherland Sewell at fiscal year-end April 30, 2010 were 0.27 BCF proved and 15.50 BCF 2P from the Peace River CBM Project.

The combined total of the Montney and CBM proved reserves is 7.9 BCF and 2P is 37.5 BCF representing a 142% increase in year-over-year 2P reserves. CIBC has reported that the average sales price for 2P gas reserves in Western Canada in 2010 was $1.95 per thousand cubic feet (“mcf”).

There have been three transactions in the Montney play in the last 90 days representing $7.5 billion of financial commitments from international energy companies. Most recently, on March 8th, Talisman and Sasol announced a second Joint Venture in the Montney on Talisman’s Cypress A Project. Sasol will pay $1.05 billion for a 50% interest in the Cypress A Project. CIBC estimates the transaction metrics at $0.19 per thousand cubic feet equivalent (“mcfe”) of contingent resource and $36,000 per acre. Canada Energy Partners owns 27,239 net acres (42 net sections) of Montney rights.

Canada Energy is an active oil and gas exploration and development company. The Company possesses a large concentrated land position in a high-impact, multi-zone, natural gas-bearing area in northeast British Columbia.

BCFe may be misleading, particularly if used in isolation. A BCFe conversion ratio of 1 bbl: 6 mcf 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 estimated values disclosed do not represent fair market value.

On behalf of the Board of Directors of Canada Energy Partners Inc.

John Proust, Chairman

Forward Looking Statements: This news release contains forward looking statements relating to expected or anticipated flow rates, timing for drilling and completion operations, future events and operations, number of wells to be drilled, timing of projects and anticipated results that are forward looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the company’s capability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. There is no representation by the company that actual results achieved during the forecast period will be the same in whole or in part as that forecast.

The TSX Venture Exchange has neither approved or disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

The analysis for phosphate mineralization identified extensive showings along the fringes of low hills across both concessions.  The findings require follow up field work but are consistent with the sampling carried out by the Company in 2009 and prior work done by others.  Company sampling, reported earlier, found a range of phosphate grades from 5.11% to 33.05% P205 over 26 samples with an average of 24.5%.  The remote sensing analysis suggests extensive apparent phosphate mineralization.  The study confirms the need for the drilling program, scheduled to begin within weeks, and assists in prioritizing further detailed geological reconnaissance over more areas within the concessions.  The high resolution digital terrain maps will also assist in determining field work access routes and sampling locations.  The analysis and interpretation map are located on the Company’s website at www.greatquest.com.

The Company has also now completed the drilling of the initial water well to service the exploration camp and executed a drilling contract for the initial drilling phase on the Tilemsi Phosphate Project of some 1000 holes to be drilled on 250 m spacing over the initial target areas.  Logistical and sampling plans are in final stages of development and implementation with mobilization of the air-core drill expected next month.  The objective of this first phase drilling program is to establish a preliminary NI 43-101 compliant phosphate resource