SOX Solex Resources Corp.

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THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF UNITED STATES SECURITIES LAW.


Osum Oil Sands Corp. ("Osum" or the "Company"), a private pure play in-situ oil
sands developer, announced today that it has acquired a 100% interest in an
additional 78 sections (49,920 acres) of oil sands leases in the Saleski area.
The new leases, located within townships 84 through 87, ranges 19 through 23,
are largely contiguous to Osum's existing carbonate holdings and solidify Osum's
position in the southern part of the Grosmont trend. 


This new acquisition brings Osum's total land holdings in the Saleski region to
approximately 8 1/2 gross townships (173,952 net acres) of land plus an
additional 34 sections (21,920 net acres) of oil sands leases in the Cold Lake
region.


Osum's total carbonate holdings, including the newly acquired leases, are
pictured here: http://media3.marketwire.com/docs/706osum.pdf


Additional imagery is available at:
http://www.osumcorp.com/about-osum/project-areas/saleski/. 


Steve Spence, Osum's President & CEO, commented, "We are very pleased with the
acquisition and what it adds to our portfolio of holdings in the region. The
prospective nature of this acquisition provides Osum an opportunity to expand
our already extensive resource base in a cost effective manner. This acquisition
is also consistent with our strategy of targeting leases that are not only
contiguous to our existing project areas but that are located in the southern
portion of the Grosmont trend where existing infrastructure and access to
markets make efficient commercial development more feasible."


Mr. Spence also noted: "We continue to believe that bitumen bearing carbonates
represent the next giant oil play, one which is potentially transformative with
respect to the Canadian oil industry. Our first mover position and significant
exposure to this trend means that Osum will be one of the greatest beneficiaries
of the commercialization of this resource." 


Commercialization of the Saleski region is well underway with a carbonate SAGD
pilot project currently in operations in which Osum has a 40% working interest.
The results from this pilot are expected to provide valuable insights into how
to best develop the Grosmont carbonate resource, which can be subsequently
applied across all of Osum's carbonate assets. To date much has been learned
from the pilot. Osum is encouraged by the early results in that they have met or
exceeded the Company's expectations for the application of SAGD in the Grosmont
Formation. In addition, a commercial application to expand the joint venture
pilot to a 12,000 bopd commercial phase has been filed with the regulator and
responses to a first round of supplemental information requests have been
submitted. Osum is also planning an extensive delineation program on its 100%
owned and operated Saleski holdings for this coming winter. This program will
include core well drilling and 3D seismic with a goal of expanding the resource
base and positioning Osum for additional near-term commercial development.


In the Company's other core area in Cold Lake, a commercial application and
Environmental Impact Assessment were filed for the 35,000 barrel per day Taiga
Project in December 2009. Osum is targeting regulatory approval in late 2011 or
early 2012. First oil from the Taiga Project is anticipated in 2014.


Osum's total reserves, contingent resources and net present values ("NPV") per
GLJ's February 2011 independent report, excluding the recently acquired lands
which are still being evaluated, are as follows:




--  359 million barrels of proved plus probable reserves with a 10% pre-tax
    NPV of $1.4 billion ($14.50 per fully diluted share) 
--  3.3 billion barrels of best estimate contingent resource with a 10% pre-
    tax NPV of $9.5 billion ($98.00 per fully diluted share) 



ALL REFERENCES TO THE FEBRUARY 2011 GLJ ASSESSMENT REFLECT THE JANUARY 2011 GLJ
ASSESSMENT FOR THE COMPANY'S RESERVE AND RESOURCE BASE AT THAT DATE, PLUS A
FEBRUARY 2011 GLJ ASSESSMENT OF A PROPERTY ACQUIRED BY OSUM IN FEBRUARY 2011 -
ALL USING THE GLJ JANUARY 2011 PRICE FORECAST.


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. As of the end Q1 2011, Osum had approximately $197 million
of net working capital and 96.1 million fully diluted shares outstanding.
Additional information on the Company is available at www.osumcorp.com.


Cautionary Information and Forward Looking Statements  

Certain statements contained in this press release 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, machinery development or production delays, changing
environmental and other regulations, the ability to attract and retain business
partners, the ability to exploit hydrocarbon resources with our technology, the
need to obtain and maintain proprietary rights over our technology, competition
from other technologies, the ability to access the capital required for project
development, 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 and thus, Osum is not
subject to regulation by any Canadian stock exchange. Osum is not a reporting
issuer in Canada and its securities are not registered under the United States
Securities Act of 1933. As a result, we are not presently subject to the
reporting, certification or other requirements imposed on Canadian Reporting
Issuers or U.S. registered issuers under, among other things, applicable
Canadian securities legislation or the 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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