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Xemplar options 70% of Corhill to Garuda

Xemplar Energy Corp. has entered into a letter of intent with Garuda Capital, a Nevada-based corporation that trades on the OTC Bulletin Board, pursuant to which the company will sign an option agreement with Garuda for Garuda to acquire a 70-per-cent interest in the company's 100-per-cent-owned Corhill uranium-gold-platinum property located in the Northwest Territories. The Corhill property comprised 18 mineral claims and covers 30,628.45 acres. The claims straddle the Northwest Territories/Nunavut border and are approximately 312 miles north-northwest of Yellowknife and 90 miles southwest of Kugluktuk (Coppermine).

The agreement provides that Garuda must make a cash payment of $50,000, issue two million common shares of Garuda Capital and incur expenditures of $1.5-million over three years. The property is subject to a 2-per-cent net smelter return royalty.

This option agreement with Garuda will allow the company to remain focused on its uranium properties in Namibia.

Xemplar Energy Corp.

Craig Walker
Director

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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