CO

This document corrects and replaces the press release that was sent today, May
17, 2012 at 10:17AM EST. It is now a joint release between eResearch and
Canadian Orebodies Inc. Additional contact information has also been added.


Canadian Orebodies Inc. (TSX VENTURE:CO) is a junior natural resource
exploration and development company with its flagship Haig Inlet iron ore
project located on the Belcher Islands in Hudson Bay in Nunavut, Canada.


The Haig Inlet project is relatively unknown, but it already has more than 500
Mt @ 35% Fe in a NI 43-101 compliant mineral resource. Further, this resource
will likely increase to more than 1 billion tonnes as a result of the planned
exploration of three new targets in 2012-2013. 


We are initiating coverage of Canadian Orebodies Inc. with a Speculative Buy
rating, and a Target Price of $0.70.


This Press Release was prepared by eResearch and was not vetted by Canadian
Orebodies Inc. Further, the Recommendation and Target Price contained in this
Press Release and in the Initiating Report are strictly those of eResearch and,
due to securities laws, are not endorsed by Canadian Orebodies Inc.


eResearch is a primary source for professional investment research, focused
primarily on small- and mid-cap companies. Our research and analysis is of
institutional quality, and has the potential for reaching millions of global
investors through our extensive electronic distribution network. 


For FREE access to all eResearch reports and articles, go to www.eresearch.ca.

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