Canadian Quantum Announces Dual Zone Alexander Oil Discovery

Canadian Quantum Energy Corporation ("Canadian Quantum" or the "Company") (TSX
VENTURE:CQM) announces the following update on the Company's jointly held (50%
working interest) Alexander First Nations Permit in Central Alberta which is
comprised of 17,280 gross acres encompassing 27 sections.


The Sundance ALEX 16-11-56-27 W4M well ("16-11 well") was drilled vertically to
a depth of 1,306 meters and encountered sweet, light oil in both the Alexander
and Detrital sands within the Lower Mannville Group. Both zones were
individually stimulated and swabbed to recover most of the load fluid prior to
testing. Final swab rates for the Alexander sand was 7.6 bbl / hr of oil while
the Detrital sand swabbed at 2.7 bbl / hour of oil. The final swab rates for the
combined zones totaled 10.3 bbl / hr oil (247 barrels oil per day). Plans are
underway to equip and place the 16-11 well on production as soon as possible,
which is anticipated to occur within the next 30 days. Although initial
productive test rates may not be indicative of long-term performance and
ultimate reserve recovery, Canadian Quantum is very excited about confirming
light oil production from both formations that produce oil commercially in the
area.


Canadian Quantum and its partner have commenced a 9 square mile 3-D seismic
program covering the north-east portion of the Alexander Permit. The seismic
work is near completion and is scheduled to be delivered to the processors
within a week. The Company and its partner are now in the process of planning a
multi-well step-out drilling program on the Alexander Permit to follow up on the
success of the 16-11 well. The drilling locations for the program will be
determined following the interpretation and analysis of the 3-D seismic results.


Douglas Brett, President and CEO of Canadian Quantum, states "We are extremely
pleased with the results obtained on our first joint well on our Alexander
Project lands. Encountering oil in both the Detrital and Alexander sands
provides excellent dual targets for multiple low risk development drilling
locations which will be chosen after we integrate our new 3D seismic data with
the 16-11 well logs and geological data."


About Canadian Quantum

Canadian Quantum is actively pursuing oil and gas opportunities in Western
Canada and continues to hold various interests in approximately 174,000 gross
acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale
Play.


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the Corporation's disclosure documents on the SEDAR website at
www.sedar.com. The Corporation does not undertake to update any forward-looking
information except in accordance with applicable securities laws.