SOX Solex Resources Corp.

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VIOLATION OF UNITED STATES SECURITIES LAW.


Osum Oil Sands Corp. ("Osum" or the "Company") is pleased to announce that, as a
follow-on to the $100 million private placement to Korea Investment Corporation
("KIC") at $13.00 per common share in November 2010, it has closed a private
placement of 3,076,923 common shares at $13.00 per common share for total gross
proceeds of approximately $40 million. Funds managed by existing major
shareholders Warburg Pincus LLC ("Warburg"), Blackstone Capital Partners
("Blackstone") and Camcor Partners Inc. ("Camcor") collectively subscribed for
the entire private placement. 


The proceeds from this financing, together with the $100 million of funding
received from KIC on November 26, 2010, will be invested directly in the
Company's in situ projects in Cold Lake and the Saleski Carbonates and used for
general corporate purposes. 


Osum filed a commercial application and Environmental Impact Assessment for the
35,000 barrel per day Taiga Project at Cold Lake in December 2009 and expects to
receive regulatory approval in 2011. First oil from the Taiga Project is
anticipated in 2014. 


Osum also continues to drive forward on its other core area in the Grosmont
Carbonate play at Saleski. A pilot project on the joint venture lands in Saleski
began operations in December 2010. The results from this pilot are expected to
provide valuable insights into how to best develop the Grosmont carbonate
resource. Work towards commercializing the Company's 100% acreage in the region
is also ongoing with a 19 well core program completed this winter. 


Steve Spence, Osum's President & CEO, commented: "We are very pleased to have
three of our existing major shareholders increase their stake in our Company.
This additional endorsement signals their continued commitment to our management
team and strategy".


About Osum

Osum is a privately held Alberta based company focused on the application of
environmentally responsible in situ recovery technologies within Canada's oil
sands and carbonates. 


Further information is available at www.osumcorp.com.

About Warburg Pincus

Warburg Pincus is a leading global private equity firm. The firm has more than
$30 billion in assets under management. Its active portfolio of more than 110
companies is highly diversified by stage, sector and geography. Warburg Pincus
is a growth investor and an experienced partner to management teams seeking to
build durable companies with sustainable value. Founded in 1966, Warburg Pincus
has raised 13 private equity funds which have invested more than $35 billion in
over 600 companies in more than 30 countries. 


Warburg Pincus has been the lead investor in numerous exploration and production
companies providing over $3.0 billion of equity for early stage companies
involved in oil and gas exploration and production, including: Antero Resources,
Bill Barrett Corporation (NYSE: BBG), Broad Oak Energy, Kosmos Energy, Laredo
Petroleum, MEG Energy (TSX:MEG), Newfield Exploration (NYSE: NFX), and Spinnaker
Exploration. The firm has offices in Beijing, Frankfurt, Hong Kong, London,
Mumbai, New York, San Francisco, Sao Paulo and Shanghai. 


Further information is available at www.warburgpincus.com.

About Blackstone Capital Partners

Blackstone is one of the world's leading investment and advisory firms and is an
experienced and active investor in the energy and natural resources sector. We
seek to create positive economic impact and long-term value for our investors,
the companies we invest in, the companies we advise and the broader global
economy. We do this through the commitment of our extraordinary people and
flexible capital. Our alternative asset management businesses include the
management of private equity funds, real estate funds, hedge fund solutions,
credit-oriented funds, collateralized loan obligation vehicles (CLOs) and
closed-end mutual funds. The Blackstone Group also provides various financial
advisory services, including mergers and acquisitions advisory, restructuring
and reorganization advisory and fund placement services. 


Further information is available at www.blackstone.com.

About Camcor Partner Inc.

Camcor is one of the top Calgary based private equity funds as measured by size,
years investing, and track record. Camcor was founded in 1997 by Cameron McVeigh
to pursue investments in Canadian hydrocarbon based energy companies and this
focus continues today. Camcor pursues an active investment management strategy
and seeks board of director representation in its investments. Camcor has raised
in excess of $600 million over its 14-year history. 


Further information is available at www.camcorpartners.com

Cautionary Information and Forward Looking Statements 

Certain statements contained in this press release, including the documents
incorporated by reference, may contain projections and "forward-looking
statements" within the meaning of that phrase under Canadian and U.S. securities
laws. When used in this document, the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect" and similar
expressions may be used to identify forward-looking statements. Those statements
reflect our current views with respect to future events or conditions, including
prospective results of operations, financial position, predictions of future
actions or plans or strategies.


Certain material factors and assumptions were applied in drawing our conclusions
and making those forward-looking statements. By their nature, those statements
reflect management's current views, beliefs and assumptions and are subject to
certain risks, uncertainties, known and unknown, and assumptions, including,
without limitation, that the conditions to closing set out in the Investment
Agreement will be satisfied as well as assumptions relating to machinery
development or production delays, changing environmental regulations, the
ability to obtain regulatory approval for our projects, the ability to attract
and retain business partners, the ability to exploit hydrocarbon resources with
our technology, future levels of government funding, the need to obtain and
maintain proprietary rights over our technology, competition from other
technologies, the ability to access the capital required for research,
technology development, operations and marketing, the need to generate positive
cash flow in the foreseeable future, changes in energy prices and currency
levels.


Many factors could cause our actual results, performance or achievements to be
materially different from any future results, performance or achievements that
may be expressed or implied by these forward-looking statements. Should one or
more of these risks or uncertainties materialize, or should the assumptions
underlying our projections or forward-looking statements prove incorrect, our
actual results may vary materially from those described in this press release as
intended, planned, anticipated, believed, estimated, or expected. We do not
intend and do not assume any obligation to update these forward-looking
statements whether as a result of new information, plans, events or otherwise.


Our securities are not traded on any stock exchange in Canada and thus, Osum is
not subject to regulation by any Canadian stock exchange. Our securities are
also not registered under the United States Securities Act of 1933 nor are they
traded on any securities or stock exchange in the United States. As a result, we
are not presently subject to the reporting, certification or other requirements
imposed on U.S. registered issuers under, among other things, U.S.
Sarbanes-Oxley Act of 2002 ("SOX").


This release is provided for information purposes only and shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there be any
sale of the common shares in any jurisdiction (including the United States) in
which such offer, solicitation or sale would be unlawful.

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