CO

Canadian Orebodies Inc. (TSX VENTURE:CO) ("Canadian Orebodies" or the "Company")
is pleased to announce the approval by its board of directors (the "Board") of
By-law No. 2, a by-law relating to the nomination of directors (the "Advance
Notice By-law"). The purpose of the Advance Notice By-law is to provide
shareholders, directors and management of the Company with a clear framework for
nominating directors.


Among other things, the Advance Notice By-law includes a provision that requires
advance notice to be given to the Company in circumstances where nominations of
persons for election to the Board are made by shareholders of the Company other
than pursuant to: (i) a requisition of a meeting made pursuant to the provisions
of the Business Corporations Act (Ontario) (the "Act"); of (ii) a shareholder
proposal made pursuant to the provisions of the Act. The Advance Notice By-law
fixes a deadline by which director nominations must be submitted to the Company
prior to any annual or special meeting of shareholders and sets forth the
information that must be included in the notice to the Company in order for a
nominee to be eligible for election.


In the case of an annual meeting, notice to the Company must be given no fewer
than 30 and not more than 65 days prior to the date of the meeting; provided
that if the meeting is to be held on a date that is fewer than 50 days after the
date on which the first public announcement of the date of the meeting was made,
notice may be given no later than the close of business on the 10th day
following such public announcement.


In the case of a special general meeting that is not also an annual meeting,
notice to the Company must be made no later than the close of business on the
15th day following the day on which the first public announcement of the date of
the special meeting was made.


The Advance Notice By-Law is effective as of the date it was approved. In order
for the Advance By-Law to remain in effect it must be ratified by an ordinary
resolution of the shareholders at the upcoming annual meeting of shareholders of
the Company.


The full text of the Advance Notice By-law is available on SEDAR at www.sedar.com.

Administration

The Company also announces that it has granted incentive stock options to
Directors, Officers and consultants of the Company in the aggregate amount of
3,125,000 under the terms of the incentive stock option plan of the Company. The
options are exercisable at a price of $0.10 per share for a period of five years
and are subject to a four month hold period from the date of the issuance
thereof.


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".


For more information please visit www.canadianorebodies.com.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Orebodies Inc.
Gordon McKinnon
President & CEO
(705) 268-9000
www.canadianorebodies.com


First Canadian Capital Corp.
Jason Monaco
Investor Relations
(416) 742-5600
jmonaco@firstcanadiancapital.com


First Canadian Capital Corp.
Jamie Frawley
Investor Relations
(416) 742-5600
jfrawley@firstcanadiancapital.com

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