Canadian Imperial Awards Drilling Contract to Lantech

Canadian Imperial Venture Corp. is pleased to announce that Lantech Drilling Services Inc. has been awarded a contract to provide a drilling rig and drilling services for the Indian Head No. 1 well at Canadian Imperial's Harry's River property in western Newfoundland.

Lantech Drilling Services have been in the slim hole drilling business since 1990 and have drilled in Nova Scotia and New Brunswick for Shell Canada and Columbia Natural Resources.

Canadian Imperial is targeting to commence drilling operations at this site November 15, 2001. The planned maximum depth of the well is 2000 meters.