News

Xemplar Receives further Drilling Results for Warmbad Uranium Project

Vancouver, June 17, 2008 - The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibia: XEM) ("Xemplar" or the "Company") is pleased to provide an update of the Company's exploration program on its Warmbad uranium project in Namibia.

The Warmbad project area was originally identified using government airborne radiometric survey results, open-file geological reports and geological field work. This was followed up by a detailed helicopter radiometric survey, during which the Company identified 14 large, anomalous radiometric 'alaskitic' bodies.

Further work conducted over the past four months indicate that some of the original 14 alaskite bodies are connected. It would also appear that Aluriesfontein, the largest single alaskite body that was originally identified as being 16 square kilometers in extent, has now been identified as being 36 square kilometers in extent. It is of significance that the rocks are alaskitic, as it is this type of rock that hosts uranium and is similar to the type of rock found at the Rossing mine in Namibia, which contributes 7% of the global uranium production at one quarter pound per ton at a grade of 0.012%.

The Company has developed and is in the process of executing a major drilling program to systematically test all of these 'alaskitic' bodies. Since drilling started on the Warmbad project, 66 drill holes have been completed. The results for the first 12 holes were reported on February 4, 2008. Assay results have been received for a further 17 drill holes and the Company is still awaiting the assay results for the remaining 37 drill holes. The assay results that are of significance are shown in the following two tables.

Aluriesfontein Drill Results

Assay results of significance from eight drill holes include the following:

 Big Yellow Drill Results

Assay results of significance from nine drill holes include the following:

 These results are very encouraging as they confirm the presence of mineralization in large widths of uraniferous granite (alaskite) at depth and are consistent with the Board's expectations of a potential porphyry-type uranium deposit model for Warmbad.

The preliminary drilling results show that the intersection of the 'alaskites' consist of relatively thin sheeted leuco-granites that were inter-layered with the country rocks of the Namaqua Metamorphic Complex. Not all of the 'alaskites' are mineralized, but the geological groundwork and the drilling confirmed the widespread uranium mineralization on the property.

The project exploration methods were recently re-assessed and a more sophisticated geological model for the 'uraniferous alaskites' at Warmbad has been introduced. This is a direct result of advice provided by Professor Judith Kinnaird, an authority on uraniferous alaskites. She identified six distinct 'alaskitic' phases, one of which is mineralized. The 'alaskites' at Warmbad share many geological features with the 'uraniferous alaskites' of the Central Damara Orogen which include the Rossing, Valencia and Goniakontes uranium deposits. The main difference at Warmbad is that the 'alaskites' were formed during the late phases of the Namaqua Metamorphic event, which makes these alaskites considerably older than the Pan African aged deposits of the Central Damara Orogen.

The focus at Warmbad has moved from identifying radiometric anomalies to the systematic geological evaluation of the composite sheeted leuco-granites that were emplaced in favorable structures near the Tantalite Valley Shear Zone. Favorable sites for finding larger coalescing sheeted leuco-granites are located in the core zones of anticlines. This is particularly relevant at Big Yellow East which is currently being drilled. The second target, which is being drilled based on the Company's enhanced geological understanding is at Aluriesfontein where a number of relatively flat lying leucogranite sheets may form a large composite body.

Ongoing, in-depth geological assessments continue on other 'uraniferous alaskites' on the Warmbad project. These currently include Big Yellow West, Energy Ridge, Houms River and Girtis (the location of these alaskite bodies can be found on the Company website, www.xemplar.ca).

In addition to enhancing our geological understanding of the 'alaskite' bodies at Warmbad, we are pleased to report that significant operational advancements have been made over the past six months. There are currently seven drill rigs on the property, of which six are owned by the Company (these will soon increase to nine), and more than sixty Company employees, made up of seven geologists, drillers, samplers, loggers and camp staff all under the direction and leadership of Mr. Charles Johnston, the Company's newly appointed Chief Geologist and Exploration Manager.

Year round drilling at Warmbad will continue as we remain on target with our objective of drilling 40,000+ meters by the end of 2008.

The Company also wishes to announce the granting of incentive stock option for a total of 1,500,000 shares at a price of $0.95 per share. The options will have an exercise term of five years.

Mike Magrum, P. Eng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the Board of Directors,
Xemplar Energy Corp

“Simon Tam”
CEO and Director

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