Carlaw Capital Corp. Announces Completion of Qualifying Transaction With Nyah Resources Inc.

TORONTO, ONTARIO (TSX VENTURE: CLW.P) is pleased to announce that on December 31, 2007, it completed its previously announced acquisition of all of the issued and outstanding securities of Nyah Resources Inc. ("Nyah") by way of an amalgamation (the "Amalgamation") of Nyah with 2152433 Ontario Inc, a wholly-owned subsidiary of Carlaw. The Amalgamation constitutes Carlaw's qualifying transaction (the "Qualifying Transaction") pursuant to the policies of the TSX Venture Exchange (the "Exchange").

Pursuant to the Amalgamation, Carlaw issued one common share in the capital of Carlaw (the "Carlaw Common Shares") for each outstanding common share in the capital of Nyah (the "Nyah Common Shares"). In addition, warrants to purchase an aggregate of 13,249,563 Nyah Common Shares and options to purchase an aggregate of 3,900,000 Nyah Common Shares outstanding immediately prior to the Amalgamation are now exercisable to purchase an equivalent number of Carlaw Common Shares in lieu thereof on economically equivalent terms and conditions.

As a result of the completion of the Qualifying Transaction, an aggregate of 50,817,225 Carlaw Common Shares are issued and outstanding, of which 39,249,563 Carlaw Common Shares were issued to holders of Nyah Common Shares. Assuming that all of the outstanding options and warrants are exercised, 69,340,510 Carlaw Common Shares will be issued and outstanding on a fully diluted basis.

Pursuant to the terms of an escrow agreement (the "Escrow Agreement") dated December 31, 2007 among Carlaw, Equity Transfer & Trust Company and certain escrow securityholders, an aggregate of 6,580,000 Carlaw Common Shares have been placed in escrow, whereby 25% of such shares will be released immediately upon the issuance of the Exchange bulletin evidencing final acceptance of the Qualifying Transaction and the balance of such shares will be released in equal tranches of 25% every six months thereafter. In addition, options to purchase an aggregate of 1,400,000 Carlaw Common Shares held by certain principals of the resulting issuer are subject to the terms of the Escrow Agreement, whereby 25% of any shares issuable upon the exercise of such options will be released every six months in accordance with the same release schedule.

Carlaw has also filed articles of amendment changing its name to "Nyah Resources Corp.", as approved by shareholders of Carlaw at an annual and special meeting held on September 21, 2007.

The board of directors of Carlaw now consists of Amar Bhalla, Stan Bharti, George Faught, David Gower and Richard Sutcliffe. George Faught has replaced Amar Bhalla as President and Chief Executive Officer of Carlaw and Deborah Battiston has replaced Stuart MacGregor as Chief Financial Officer of Carlaw.

A filing statement dated December 21, 2007 prepared in accordance with the requirements of the Exchange in connection with the Qualifying Transaction has been filed with the Exchange and applicable Canadian securities regulators on SEDAR and is available at www.sedar.com.

Subject to final approval of the Exchange, Carlaw anticipates that its common shares will commence trading shortly on the Exchange as a Tier 1 issuer under its new name and trading symbol "NRU".

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Carlaw assumes no obligation to update the forward-looking statements unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings by Carlaw with the Canadian securities regulators, which filings are available at www.sedar.com.

The TSX Venture Exchange has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Contacts: Carlaw Capital Corp. Amar Bhalla Director [phone] Email: [e-mail]