Canadian Orebodies Inc. (TSX VENTURE:CO) ("the Company") is pleased to announce
that it has acquired the remaining 20% interest in its ZigZag Lithium Property
("the Property") held by Ultra Lithium Inc. (TSX VENTURE:ULI). The Company now
holds an undivided 100% interest in the Property. As consideration for the
purchase, Canadian Orebodies has agreed to issue 500,000 common shares of the
Company to Ultra Lithium Inc. The Property consists of 129 claim units totalling
2,064 hectares located approximately 60km northeast of Armstrong, Ontario.


"Canadian Orebodies is pleased to have the opportunity to consolidate a 100%
interest in the ZigZag Property on such favourable terms - a project that we
feel remains under explored to date," said Gordon McKinnon, President & CEO of
the Company.


The transaction is subject to TSX Venture Exchange approval, and the common
shares issued will be subject to a hold period of four months and one day.


Exploration Update

Canadian Orebodies is in the process of reviewing a number of opportunities and
expects to provide an update on exploration activities for the remainder of the
year in the near term.


About Canadian Orebodies Inc.

Canadian Orebodies is a Canadian-based mineral exploration company with a
portfolio of properties in Nunavut and Ontario. Canadian Orebodies trades on the
TSXV under the symbol "CO".


Forward-Looking Information

This press release may contain certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
mineral resources, potential mineralization, exploration results and the
Company's plans with respect to the exploration and development of the
Properties) are forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on information
currently available to the Company. Forward- looking statements are subject to a
number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things, changes in commodity prices, changes in equity markets, failure to
establish mineral resources, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required regulatory
approvals, uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting drilling
results and other ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty
therein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com


First Canadian Capital Corp.
Jamie Frawley
Investor Relations
(416) 742-5600
jfrawley@firstcanadiancapital.com