Canadian Phoenix Resources Corp.: Appointment of New Director

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CANADIAN PHOENIX RESOURCES CORP. (TSX VENTURE:CPH) ("Canadian Phoenix") is pleased to announce the appointment to its Board of Directors of Mr. Harry Knutson of Vancouver, BC, effective immediately.

Mr. Knutson is Chairman, Chief Executive Officer and the founder of Nova Bancorp Group and has been responsible for the growth and performance of the diversified wealth management firm since its inception in 1982. He was Chairman of Montreal-based StrategicNova Inc. from 1998 to 2002, and, prior to establishing Nova Bancorp Group, he was President of a mid-sized trust company; President, Chief Executive Officer and Director of a real estate investment trust and President of a conglomerate active in the food, sports and real estate industries.

Mr. Knutson was instrumental in the reorganization of Bonavista Petroleum Ltd. in 1997, and continues as an active director on the board of Bonavista Energy Trust. He is also a board member of a number of junior oil and gas and related industry companies, and has received the Canadian Chartered Director designation from The Directors College of McMaster University.

D. Barry Lee, Co-Chairman of Canadian Phoenix, commented:

"We are pleased to welcome Harry Knutson to the Canadian Phoenix Board, and we look forward to drawing on his excellent reputation and vast investment banking and corporate experience."

Canadian Phoenix Resources Corp. is a publicly-traded junior oil and gas exploration, development and production company with operations in Western Canada. Canadian Phoenix is pursuing a corporate strategy of being a consolidator of oil and gas assets located in the Western Canadian Sedimentary Basin. Strategic corporate acquisitions promote partnerships for the future development of acquired or targeted oil and gas assets. Canadian Phoenix's shares trade on the TSX Venture Exchange under the symbol "CPH".

ON BEHALF OF THE BOARD OF DIRECTORS OF CANADIAN PHOENIX RESOURCES CORP.

Thomas P. Stan, President & CEO

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. (403) 920-0043 (FAX)