Mr. Michael Atkinson reports

CANADIAN PHOENIX RESOURCES CORP. - RESIGNATION OF MR DAVID TUER FROM BOARD OF DIRECTORS

David A. Tuer has resigned from the board of directors of Canadian Phoenix Resources Corp. effective immediately. Mr. Tuer joined the board of Canadian Phoenix in August, 2008, as part of Canadian Phoenix's acquisition of a 58-per-cent interest in Marble Point Energy Ltd. Mr. Tuer was vice-chairman of the board of directors and chief executive officer of Marble Point, and is currently vice-chair and chief executive officer of Teine Energy Ltd. (previously Marble Point). Canadian Phoenix disposed of its interest in Marble Point in June, 2010, and Mr. Tuer's resignation from the board of Canadian Phoenix follows on from the conclusion of that transaction.

The board would like to thank Mr. Tuer for his services as a member of the board of Canadian Phoenix over the past two years, and wishes him best of luck in his future endeavours.