[Marinir] {Disarmed} Canadian Orebodies (TSX-V: CO) Starts Drilling on the Potential Large-Tonnage Haig Inlet Iron Ore Project

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http://www.canadianorebodies.com 

CANADIAN OREBODIES COMMENCES DRILLING ON THE POTENTIAL LARGE TONNAGE 
HAIG INLET IRON ORE PROJECT 

Canadian Orebodies Inc. (TSXV: CO 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=CO&region=C&lookup=symbol&snapshot=default 

) ("Orebodies") is pleased to announce that it has commenced drilling on 
Orebodies Haig Inlet Iron Ore Project, located on the Belcher Islands, 
Nunavut, Canada (the "Property"). 

Orebodies commenced exploration on the Property utilizing 3 diamond 
drills, with plans for the drilling to continue into September, for as 
long as weather conditions allow. The program is designed to test the 
Kipalu Formation of iron-bearing rocks, by following up on the work 
previously carried out on the Property in the 1950's by Belcher Mining 
Corporation Ltd ("BMC"), with the goal of establishing a 43-101 
compliant resource estimate. The Property is appealing for the fact of 
its potential to host a large tonnage of iron ore based on the 
historical resource estimate and that there has been no exploration work 
on the Property since the 1950's. 

Gordon McKinnon, Orebodies President & CEO stated "This is a very 
exciting step for the Company and for the Haig Inlet Iron Ore Project, 
as drilling has now commenced with the goal of delineating a 43-101 
compliant resource estimate." Mr. McKinnon further went on to say "The 
Property's proximity to tidewater and the possibility of natural deep 
water ports are compelling and key aspects for the project, which could 
be a major cost advantage to other projects requiring rail 
infrastructure." 

About the Property: 

The Haig Inlet Iron Ore Project covers over 14,180 hectares on Flaherty 
Island. A significant amount of exploration work, including numerous 
widely-spaced diamond drill holes, was carried out on the property 
during the 1950's by Belcher Mining Corporation Ltd ("BMC"). BMC's 
exploration programs targeted the Kipalu Formation of iron-bearing rocks 
containing laterally extensive magnetite (with subordinate hematite) 
iron formations of the Superior type. The Property is host to a 
significant unclassified historical resource estimate of 907 million 
tonnes grading 27% iron as defined in the government publication, 
"Northern Mineral Policy Series; NM1: Mines and Important Mineral 
Deposits of the Yukon and Northwest Territories, 1982* ". 

*The mineral resource outlined here is a non-compliant NI 43-101 Mineral 
Resource since it is historical in nature and should not be relied upon. 
There is no direct evidence that these numbers or any portion thereof 
will ever be achieved at any time with further exploration work. These 
are historical resource estimates that do not comply with the current 
Canadian Institute of Mining, Metallurgy and Petroleum Resources (CIM) 
Definition Standards on Mineral Resources and Mineral Reserves as 
required by National Instrument 43-101 (NI 43-101) "Standards of 
Disclosure for Mineral Projects." Historical BMC exploration results 
were studied by a qualified person and compared with other non-BMC 
exploration programs carried out on the Belcher Islands. Although 
conclusions support the presence of a large area of iron mineralization, 
the historical results are not considered reliable given an incomplete 
database of diamond drill hole logs and the lack of accurate collar 
surveying related to the BMC historical exploration programs. In 
addition, the unknown level of quality assurance/quality control 
implemented during the historic BMC programs, which is currently 
required to be carried out under the supervision of a qualified person 
as defined by NI 43-101 policy, questions the reliability and confidence 
in the historic estimate. 

This press release has been prepared under the supervision of Mr. Henry 
Hutteri (P.Geo.), who is an independent consultant to the Company and a 
"qualified person" (as such term is defined in National Instrument 
43-101). Mr. Hutteri has verified the technical data disclosed in this 
press release. 

For more information please contact: 

Gordon McKinnon, President & CEO 

Canadian Orebodies Inc. 

(705) 268-9000 

www.canadianorebodies.com 

http://www.canadianorebodies.com 

Forward Looking Information: 

Some of the statements and information contained herein may be 
forward-looking information which involves known and unknown risks and 
uncertainties, including statements respecting the Agreement. Without 
limitation, statements regarding the potential acquisition of a 100% 
interest in the NTI Agreement, statements regarding potential 
mineralization and resources, proposed exploration activities and future 
plans and objectives of Orebodies are forward looking statements that 
involve various degrees of risk. The following are important factors 
that could cause Orebodies actual results to differ materially from 
those expressed or implied by such forward looking statements: changes 
in the world wide price of mineral commodities, general market 
conditions, the uncertainty of access to capital. In particular, there 
can be no assurance that a definitive joint venture agreement will be 
entered into, that TSX Venture Exchange or NTI approval of the Agreement 
will be obtained, or that Orebodies will undertake any or all of the 
issuances necessary to complete the acquisition of the 100% interest in 
the NTI Agreement. 

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