Corridor Wins License Offshore Newfoundland

On Dec. 3, 2007, the Canada - Newfoundland and Labrador Offshore Petroleum Board announced that Corridor Resources Inc. was the successful bidder for a 51,780 hectare exploration license situated on the eastern end of the Old Harry prospect off the west coast of Newfoundland in the Gulf of St. Lawrence. The license carries a minimum work commitment of $1,521,000 to be conducted over a five-year initial term. Acquisition of this license is part of Corridor's long-term efforts to open up hydrocarbon exploration offshore in the Gulf of St.Lawrence.