News | Xemplar Energy Corporation

Virginia Energy Exercises Option to Take 100% Interest in Otish, Québec Properties from Xemplar Energy Corp.

Vancouver, British Columbia, Canada, January 15, 2010 - Xemplar Energy Corp. (TSX.V: XE) and Virginia Energy Resources Inc. (TSX.V: VAE) are pleased to announce that Virginia is exercising its option to take a 100% interest in the Otish, Québec uranium property, under terms laid out in a July 25, 2008 option agreement between the two companies (see August 12, 2008 News Release).

The property package includes four claim blocks (Lorenz, Trident, Cigare and Péribonka) totaling 52,549 hectares in 1052 CDC cells. Work by Virginia in 2008 and 2009 has identified several drill-ready uranium prospects including Lac du Castor, Lac Tion, Lorenz Gully, Lac Tête and others (see Virginia News Releases of May 11, September 16, September 21 and October 5, 2009). In addition, the Péribonka property completely surrounds the small Lavoie property which hosts the historic, high-grade Seru “L” zone uranium-gold deposit. Abitex Resources Inc. is earning a 50% interest in Lavoie from AREVA Resources Canada and SOQUEM Inc. On January 14, 2010, Abitex released 2009 drill results for Lavoie, and confirmed that a resource estimate is being prepared.

To complete the acquisition of a 100% interest in the Xemplar Otish property, Virginia will deliver 1.2 million common shares to Xemplar, which will be subject to a four-month hold period. The claims are subject to a 3% NSR Royalty, of which half can be purchased by Virginia.

The technical information in this news release has been reviewed by Michael S. Cathro, P.Geo., Virginia’s Vice-President of Exploration and a Qualified Person as defined in National Instrument 43-101.

Disclaimer and Cautionary Statement Regarding Forward-Looking Information

Neither 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. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

Xemplar Energy Corp. seeks safe harbor.