CO

Canadian Orebodies Inc. (TSX VENTURE:CO) ("Canadian Orebodies" or the "Company")
is pleased to announce that the Company's 2012 exploration program has commenced
on the Belcher Islands, Nunavut. Drilling has started on the Kihl Bay Anticline
target area, which is located to the northeast of Haig Inlet and is comprised of
relatively closely spaced north-plunging anticlines and synclines. The Company
believes the anticlines may elevate the Kipalu Iron Formation close to surface,
thereby giving potential for low strip ratio and open pitable iron
mineralization.


The Kihl Bay Anticline is one of three high priority targets to be tested during
this summer's exploration program. The company plans to conduct the exploration
drilling this season in two phases: wide-spread exploration holes on the Kihl
Bay Anticline, Haig West, and the Haig North Extension, followed by infill
drilling on the areas which would be most amenable to developing an open-pit
mineral resource.


"We are excited to get a head start on this summer's season by flying our first
drill into the Belcher Islands in order to capitalize on favourable weather
conditions in June, which should allow for better production. Our second drill
rig is scheduled to be brought in by barge in mid- July once ice conditions
allow." said Gordon McKinnon, President and CEO of Canadian Orebodies. "The Kihl
Bay Anticline is the first area selected for drilling of the three very large
and highly prospective targets that have never previously been drill tested. We
are eager to prove management's belief that the wide spread iron formations on
the Belcher Islands have the potential to host significant additional tonnage
outside of what the Company has already proven at Haig Inlet."


About Canadian Orebodies Inc.

Canadian Orebodies 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 Ore Project, located on
the Belcher Islands in Nunavut. The Haig Inlet Iron Ore Project is host to an
indicated iron ore resource of 230 million tonnes at 35.17% Fe and an additional
inferred resource of 289 million tonnes at 35.47% Fe. Canadian Orebodies trades
on the TSXV under the symbol "CO".


This press release has been prepared under the supervision of Mr. George Wahl
(P.Geo.), who is an independent consultant to the Company and a "qualified
person" (as such term is defined in National Instrument 43-101). Mr. Wahl has
verified the technical data disclosed in this press release.


For more information please visit www.canadianorebodies.com.

Forward-Looking Information

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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