Canadian Orebodies Inc. is pleased to announce that it is has entered into an Option Agreement (the "Option") with Ultra Lithium Inc. ("Ultra") and the underlying property owners (the "Owners") to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by the Owners, 50% of which can be purchased by Orebodies for $1,000,000) in the Zigzag Lithium, Tantalum, Beryllium, Gallium property (the "Property"). The Property in total consists of 129 claim units comprising 2,064 hectares, located approximately 60 km northeast of Armstrong, Ontario.

About the Property:

The Property is tied directly onto Linear Metals Corp. Seymour Lake Lithium/Tantalum/Beryllium property and is in the general area of Orebodies' Falcon and Despard Lithium properties.

This is a key property acquisition for Orebodies that holds great potential in this very prospective lithium/rare metal pegmatite field. The Property significantly adds to Orebodies land position by nearly doubling its interest in the area again and bringing Orebodies total land holdings to over 4,300 hectares.

The property hosts 5 different showings of interest as listed below:

Tebishogeshik
- Consists of sub parallel pegmatite lenses(i)
- Channel cuts across No. 2 lens averaged 1.28 percent Li2O across 32 feet
(Hoiles 1958)(i)
- The No. 4 lens has been channel-sampled at intervals throughout a length
of 500 feet. According to Hoiles (1958), it averages 1.65 percent Li2O
across a mean width of 22 feet(i)
- Breaks (2003) stated that the majority of the tantalum-oxide minerals in
the Crescent Lake pegmatite group are manganotantalite. Individual
analysis of manganotantalite from Tebishogeshik Lens 3 exceeded 80
weight % Ta2O5 and were amongst the highest documented in lithium-rich
pegmatite of Ontario.
Dempster East
- Six channel samples were cut across the deposit by Dempster Explorations
Limited. These samples indicated an average grade of 1.88 percent Li2O
(Hoiles 1958).(i)
- Three samples, cut near the southeast end of the occurrence averaged
1.78% Li20 across a width of 4.1 m.(i)
Dempster L28
- Similar mineralogy as Tebishogeshik, contains prismatic spodumene
crystals up to 10 cm in length(i)
Ketchican Road Beryl Occurance
- muscovite bulk sample revealed anomalous levels of most rare metals;
Lithium, Cesium, Tin, Niobium and Tantalum.(ii)
- this beryl occurrence could be part of a larger, zoned, rare-element
pegmatite dike swarm.(ii)
Bird River Potential No. 1
- Dr. Anderson (1975) stated that geochemical sampling of the host rocks
adjacent to the lithium rich pegmatite zones showed a dramatic increase
in the trace lithium content.
(i) (historical in nature and not 43-101 compliant and therefore should not
be relied upon -
the grade and tonnage estimates for the deposits was taken from the
Ontario Department of Mines, Geological Report No. 55, Crescent Lake
Area, by E.G. Pye, 1968).
(ii) (historical in nature and not 43-101 compliant and therefore should
not be relied upon- the information was taken from Open File
Report 6195, Fertile and Peraluminous Granites and Related
Rare-Element Mineralization in Pegmatites, North-
Central and Northeastern Superior Province, Ontario by F.W. Breaks,
J.B. Selway and A.G. Tindle 2006)

In order to earn its interest in the Property, Orebodies is required to:

1. Pay to Ultra $100,000 over a 4 year period.
2. Issue to Ultra an aggregate amount of 650,000 common shares of Orebodies
over a 4 year period and issue to the Owners an aggregate amount of
150,000 common shares of Orebodies on TSXV approval.
3. Fund $350,000 of exploration expenditures on the property over a 4 year
period.