Published: February 04, 2011

Gastem Grants Options to Directors

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Gastem (TSX VENTURE: GMR) announces that the company has granted, subject to regulatory approval, 30,000 incentive stock options to directors of the company, for a total of 120,000 incentive stock options, at an exercise price of $0.21 per share expiring five years from the date of grant. This grant of options is to compensate the directors for their services rendered during the year 2010 and is in line with the annual compensation program of the company. The annual compensation program was initially prepared by an independent compensation firm and adopted in 2008.

Mr. Murray Rodgers has resigned from the Board of Directors as a result of his increased activities as President and CEO of Zodiac Exploration, active in California and Nova Scotia. Gastem thanks Mr. Rodgers for his expertise, time and support, and wishes him all the best in his new venture. His replacement is to be announced shortly.

Gastem is an independent oil and gas exploration and development company based in Montreal. The company holds exploration and storage permits and rights in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in Quebec as well as rights and interests in New York State and Virginia.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.