News

Xemplar signs deal to farm out 70% of Corhill

Further to its news release in Stockwatch of June 26, 2006, Xemplar Energy Corp. advises it has entered into a option agreement with Garuda Capital Corp., a Nevada-based corporation that trades on the OTC Bulletin Board, pursuant to which Garuda will acquire a 70-per-cent interest in the company's 100-per-cent-owned Corhill uranium-gold-platinum property located in Northwest Territories. The Corhill property comprises 18 mineral claims and covers 30,628.45 acres. The claims straddle the NWT/Nunavut border and are approximately 312 miles north-northwest of Yellowknife, and 90 miles southwest of Kugluktuk (Copper mine).

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.

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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