Corridor Announces Pricing of Share Offering

Corridor Resources Inc. (TSX: CDH) has finalized the terms of its previously announced common share offering. The offering will consist of 4.7 million common shares of the Corporation issued at a price of $6.50 per share for total gross proceeds of $30.55 million. The underwriters, comprising RBC Capital Markets, as lead manager, Jennings Capital Inc., D&D Securities Company and Beacon Securities Limited, will have an option, exercisable for a period of 30 days from the date of closing, to purchase up to 470,000 additional common shares of the Corporation at a price of $6.50 per share.

The Corporation has filed with the securities regulatory authority in each of the provinces of Canada, other than Quebec, a final short form prospectus with respect to the offering. The common shares are also being offered (a) in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and (b) in certain jurisdictions outside of Canada and the United States.

The Corporation intends to use the net proceeds of the offering to fund the drilling and well completion program at the McCully Field, exploration drilling in New Brunswick and Prince Edward Island and for general corporate purposes.

Closing of the common share offering, which is subject to certain conditions, is expected to occur on or about December 14, 2006.

The common shares have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the common shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful.

Corridor is a junior oil and gas exploration and production company, headquartered in Halifax, Nova Scotia, with interests onshore in New Brunswick, Prince Edward Island and Quebec, and offshore in the Gulf of St. Lawrence.