CO

Canadian Orebodies Inc. (TSX VENTURE:CO) ("Canadian Orebodies") is pleased to
announce it has filed on SEDAR a NI 43-101 Technical Report ("Report") at
www.sedar.com. The Report is with respect to Canadian Orebodies Mineral Resource
estimate on the Haig Inlet Iron Ore Project, located on the Belcher Islands in
Nunavut, Canada.


As reported previously in the press release dated February 6, 2012 an initial
resource estimate on the property resulted in an indicated iron ore resource of
230 million tonnes at 35.17% iron and an additional inferred resource of 289
million tonnes at 35.47%.


In the report Mr. Wahl stated "The Kipalu Formation which hosts the Haig Inlet
Mineral Resources exhibits many similarities to the Sokoman Iron Formation that
hosts many existing iron ore producers. The area is prospective in terms of
potential for both magnetite and hematite dominant ore types." The author
further stated, "The project benefits from the upside potential to significantly
expand Mineral Resources with further drill programs on multiple targets."


"The filing of this technical report marks another milestone and the findings
echo management's belief that there is significant untapped discovery potential
for both magnetite and hematite deposits on the Belcher Islands on top of what
we have already established at Haig Inlet," says Gordon McKinnon, President and
CEO of Canadian Orebodies. "We are extremely excited to commence the 2012 drill
campaign outlined in the Report as it calls for another aggressive drilling
season targeting multiple high priority target areas we believe could hold
significant potential to expand on our tonnage which will further the Company's
goal of establishing the Belcher Islands as a new iron ore district in Canada."


Canadian Orebodies is particularly enthusiastic about the Haig Inlet Project
because it is located adjacent to tidewater in Hudson Bay, which opens up the
possibility for direct ocean shipping to global markets.


This resource estimate has been completed in compliance with National Instrument
43-101 standards and the corresponding Technical Report is filed under the
Company's profile on SEDAR and is also available on the Company's website. The
resource estimate was completed by G Wahl, P. Geo., Principal of G H Wahl &
Associates Consulting, who is a Qualified Person as defined by National
Instrument 43-101.


The current audited mineral resources statement for Haig Inlet is presented below.



--------------------------------------------------------------------------
                         Mineral Resource       Million                   
         Area                Category            Tonnes          %Fe      
--------------------------------------------------------------------------
      Haig North             Indicated            230           35.17     
--------------------------------------------------------------------------
      Haig North             Inferred             155           35.55     
--------------------------------------------------------------------------
      Haig South             Inferred             134           35.37     
--------------------------------------------------------------------------
      Haig North          Total Indicated         230           35.17     
--------------------------------------------------------------------------
  Haig North & South      Total Inferred          289           35.47     
--------------------------------------------------------------------------



About the Company

Canadian Orebodies Inc. is a Canadian-based mineral exploration company with a
portfolio of properties in Nunavut and Ontario. Canadian Orebodies' primary
focus is on advancing and developing its Haig Inlet Iron Project, located on the
Belcher Islands in Nunavut. Canadian Orebodies trades on the TSX Venture
Exchange under the symbol "CO".


For more information please visit www.canadianorebodies.com.

This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
mineral resources, potential mineralization, exploration results and the
Company's plans with respect to the exploration and development of the
Properties) are forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on information
currently available to the Company. Forward-looking statements are subject to a
number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward- looking
statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things, changes in commodity prices, changes in equity markets, failure to
establish mineral resources, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required regulatory
approvals, uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting drilling
results and other ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty
therein.

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