Aug. 27, 2010 (Filing Services Canada) -- Champlain Resources Inc. (CPL.H - TSX Venture), ("Champlain" or the "Company"), listed on the TSX Venture NEX Exchange under the trading symbol "CPL.H", wishes to announce the cancellation of 2,125,000 escrowed common shares eligible for cancellation pursuant to and in accordance with the escrow agreement dated December 6, 1999, as disclosed in the Company's 2009 annual financial statements. The issued and outstanding share capital of the Company is now 38,304,535 common shares (the "Common Shares").
Change of Business update
Champlain is pleased to announce that to date shareholders holding an aggregate of 22,311,100 Common Shares representing approximately 58.25% of the share capital of the Company have provided their written consent to the Company's proposed change of business transaction announced on September 16, 2009 and February 9, 2010 and more particularly described in the Company's Filing Statement available on SEDAR at www.sedar.com.
"This has been an overwhelming response from our shareholders to so quickly approve the direction of Champlain" said Mr. Mochoruk. "I want to thank all shareholders for the support and look forward to the new direction for Champlain".
For further information contact:
Mr. Troy Mochoruk
Chairman and Chief Executive Officer
#1614, 246 Stewart Green SW
Calgary, AB T3H 3C8
Tel: (403) 618-8989
Fax: (403)243-7298
www.champlainresources.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Source: Champlain Resources Inc. (CPL.H - TSX-V)
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