Mr. John O'Donnell reports

LOYALIST EXPLORATION LIMITED ANNOUNCES RETIREMENT OF CHAIRMAN

David Drinkwater, the chairman of the board and a director of Loyalist Exploration Ltd., has retired from his positions as chair of the board and a director of the company. Mr. Drinkwater said, "I have enjoyed my tenure, but it is time for me to retire." John F. O'Donnell, interim chief executive officer, thanked Mr. Drinkwater for his past service to the company and told him, "I have enjoyed our brief association and will miss your steady hand at the helm" during the transition of the company.

About Loyalist Exploration Ltd.

Loyalist Exploration is a mineral exploration company focused on acquiring, exploring and developing quality mineral properties in Canada. The company's core values are respect for the community, the landowners, the environment and operating a safe workplace for its employees. The company is also committed to best-practice standards of corporate governance.