NEWS RELEASE (CWQ-TSX-V) (CWLXF.PK Pink Sheets)
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Disclaimer: The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
January 23, 2007
Langley, BC, Canada: The Company updates current operations.
Métis Project, Alberta – The Company has been advised by Métis Moccasin Resources Inc. that they are waiting for final paperwork from the local Métis Council in order to proceed. Management is very appreciative of the patience of shareholders and is committed to a long-term relationship with the Métis. Both the President and CFO are confident that this deal will benefit all parties, which is why senior management took down over half a million dollars worth of shares at 20 cents. Since Curlew Lake Resources Inc. is not the operator of the project we depend on the professionalism of the parties involved to move the project forward as soon as possible. As soon as the Company has information to report it will be distributed.
Fosterton, Saskatchewan - The Fosterton project encountered delays due in part to funding issues. Curlew Lake was pleased to hear this week that one of the partners has now come up with their portion of the funds so the operator can now proceed in equipping the well with a pump. Since May the operator had been relying on the formation to flow without a pump, which has resulted in lower rates of production than the well is capable of. The Company is pleased with recent events and has been notified that the operator is moving the program forward. Curlew Lake has also received a notification for expenditure on 3-D seismic for the next well as well as the estimated cost of a follow-up developmental well. Curlew Lake has a 25% Working Interest in the initial well and a 15% Working Interest in all follow-up wells which it hopes can be drilled prior to spring breakup.
Turner Valley, Alberta –The new owner and operator of the Turner Valley Project contacted Curlew Lake last week. This private individual along with Curlew Lake Resources will examine the Turner Valley potential in the coming months. We look forward to a good relationship with the new owner of the assets previously held by Bearcat and Stampede. Initial plans include the examination of existing drilled wells with a view to adding value to the asset base.
Aidan Capital Agreement - Aidan Capital contacted the Company this week to notify Management that they were prepared to submit their 211c to commence trading in the United States of America. Curlew Lake Resources Inc. will receive 15% of the initial shares of the new company, which will be distributed to Curlew Lake shareholders.
Clear Creek, Yukon –A detailed 2007 exploration plan is currently being developed. This plan will include further detailed geochemistry, an Induced Polarization survey, and an extensive geological mapping and diamond-drilling program. In response to shareholder questions, if the 2007 exploration program noted above is successful, the Company will consider its options with regards to this property. It will initiate a search for a major partner; or alternatively will look at the possibility of spinning the mineral property off to a new stand-alone mining company. In either instance the shareholders of record would benefit greatly.
Corporate Structure –David McKee has been appointed Corporate Secretary of Curlew Lake Resources Inc. Mr. McKee succeeds Mrs. Shirley Dyer, who has taken on a consultant role with the Company.
Updates will follow on the above-mentioned projects as developments occur.
For additional information or to be added to the corporate mailing list please visit the following page curlew-lake.com
On Behalf of the
Board of Directors
“Robert B. Pincombe”
President
For more information contact:
Curlew Lake Resources Inc.
Robert B. Pincombe, President
Tel: (604) 628-1961
Fax: (604) 628-1993
Email: information@curlew-lake.com
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