Glamis Adds One Million Barrels of Light Oil Reserves Through the Drill Bit

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR TO UNITED STATES
NEWS WIRE SERVICES.


Glamis Resources Ltd. (TSX VENTURE:GLM.A)(TSX VENTURE:GLM.B) ("Glamis" or "the
Company") is pleased to announce its financial and operating results for the
three months and year ended December 31, 2008. 


Glamis' highlights for 2008 are as follows:

- Developed a significant light oil pool at Queensdale, Saskatchewan with six,
100% working interest, horizontal wells. Glamis achieved a success rate of 100%
with this development program.


- Discovered a new, 100% working interest, light oil pool at Manor,
Saskatchewan. Successfully developed this Tilston pool with three additional
wells achieving a 100% success rate.


- Successfully drilled a 50% working interest extension to the Manor Alida Oil
Pool and a 100% working interest extension to the Arcola Frobisher-Alida Oil
Pool.


- Production averaged 365 boe/d for 2008; a 70% increase from the 2007 average;
increased year-over-year production per share by 36% and exited 2008 at 647
boe/d (100% oil).


- Reserve Life Index of 5.6 years on a Total Proven basis and 8.4 years on a
Total Proven plus Probable basis using December 31, 2008 reserves and Q4 2008
production.


- Increased Total Proved plus Probable reserve volumes by 117% to 1.6 mmboe (97%
oil), an increase of 73% on a per share basis over 2007.


- Replaced production by 650%.

- Invested $20.4 million in capital projects:

-- Drilled 13 wells (12.5 net); 12 (11.5 net) oil wells and 1 (1.0 net) dry and
abandoned


-- Invested $3.3 million on land and seismic

-- Constructed a 100% working interest oil battery at Queensdale, Saskatchewan

- Significantly increased funds flow over the year to $5,860,000 ($0.20 per
fully diluted Class A share) compared to $730,000 ($0.03 per fully diluted Class
A share) in the prior year, as a result of increased production volumes and
higher oil prices.


- Increased southeast Saskatchewan undeveloped land base by 400% year-over-year
to 7,500 net acres.


Fourth Quarter 2008 highlights

- Produced an average of 521 boe/d, 99% oil.

- Achieved funds flow of $1.1 million ($0.04 per share).

- Drilled 3 successful horizontal wells in southeast Saskatchewan.

- Expanded Glamis' land position acquiring 3,420 acres in southeast Saskatchewan
and 3,840 acres in southwest Manitoba. Glamis held 19,300 net acres of
undeveloped land at year-end


- Shot 18.8 square kilometers of 3D seismic in southeast Saskatchewan. Three
drilling locations were identified with the first location to be tested in the
second quarter of 2009.


2008 Year End Reserves Summary

This summary of Glamis' reserves evaluation as at December 31, 2008 was prepared
by GLJ Petroleum Consultants Ltd. ("GLJ"), the Company's independent reserves
evaluator. The National Instrument 51-101 forms F1, F2 and F3 have been filed on
SEDAR and can be viewed at www.sedar.com or www.glamisresources.ca.




Gross Company Interest Reserves (as at Dec. 31/08)
--------------------------------------------------
(before deduction of royalties payable, not including royalties receivable)

                                  NGL's         Gas         Oil      Oil Eq.
                                   Mbbl        MMcf        Mbbl        Mboe
----------------------------------------------------------------------------
Proved Producing                     34         103         846         898
Proved Developed Non-producing        -          27           5          10
Proved Undeveloped                   13          38         135         154
Total Proved                         47         168         987       1,062
Total Probable                       27         162         487         541
----------------------------------------------------------------------------
Total Proved Plus Probable           74         330       1,473       1,603
----------------------------------------------------------------------------



RECONCILIATION OF GROSS RESERVES BY PRINCIPAL PRODUCT TYPE (1)
----------------------------------------------------------------------------
          Light & Medium Crude
             Oil & Natural Gas   Conventional Natural  Total Oil Equivalent
                 Liquids (mbbl)         Gas (2) (mmcf)                (mBOE)
----------------------------------------------------------------------------
                        Proved                 Proved                Proved
                          Plus                   Plus                  Plus
                  Prob-   Prob-         Prob-    Prob-         Prob-   Prob-
Factors   Proved  able    able  Proved  able     able  Proved  able    able
----------------------------------------------------------------------------
Reserves
 at Dec.
 31, 2007    573   152     725      63    16       79     584   154     738
Discov-
 eries         0     0       0       0     0        0       0     0       0
Exten-
 sions       585   375     959     143   148      291     609   399   1,008
Infill
 Drilling      0     0       0       0     0        0       0     0       0
Improved
 recovery      0     0       0       0     0        0       0     0       0
Technical
 revisions    (3)  (10)    (22)    (33)   (2)     (36)     (9)  (23)    (32)
Acquisi-
 tions        17     6      23       0     0        0      17     6      23
Disposi-
 tions         0     0       0       0     0        0       0     0       0
Economic
 Factors       0     4       4       1     0        1       0     4       4
Produc-
 tion       (138)    0    (138)     (5)    0       (5)   (139)    0    (139)
Reserves
 at Dec.
 31, 2008  1,034   527   1,551     168   162      330   1,062   540   1,602 
----------------------------------------------------------------------------

(1) Table may not add due to rounding
(2) 100% of Glamis' natural gas reserves are residue and solution gas



Net Present Value of Reserves

Below is a table showing the Company's net present value of future net revenue
attributable to reserves using forecast prices and costs. The prices used were
GLJ Forecast Prices as at January 1, 2009. The estimated future net revenues are
presented before deducting future estimated site restoration costs, and are
reduced for estimated future abandonment costs and future capital costs
associated with non-producing, undeveloped and probable additional reserves.
Estimated values disclosed do not necessarily represent fair market value.




Summary of Future Net Revenue Before Income Taxes $(000's)
-----------------------------------------------------------

Discounted at:                    0%         5%         10%
-----------------------------------------------------------
Total Proved                 42,938     34,395      28,664

-----------------------------------------------------------
Total Probable               23,583     14,191       9,377

-----------------------------------------------------------
Total Proved Plus Probable   66,521     48,586      38,041
-----------------------------------------------------------



FINANCIAL & OPERATIONAL HIGHLIGHTS 

Glamis has filed on SEDAR its audited financial statements and related
Management Discussion and Analysis ("MD&A") for the three and twelve month
period ended December 31, 2008. Selected financial and operational information
is outlined below and should be read in conjunction with Glamis' audited
financial statements and related MD&A which are available for review at
www.glamisresources.ca or www.sedar.com.




-------------------------------------------------------------------------
                                              Year       Year 
                                             Ended      Ended  
                                            Dec 31     Dec 31          %
($000s except per unit amounts)               2008       2007     Change
-------------------------------------------------------------------------
Petroleum & natural gas revenue             11,284      4,307        162
Funds flow from operations                   5,860        730        703
  Per share (diluted)                         0.20       0.03        566
Net income (loss)                              898     (2,729)       n/a
  Per share (diluted)                         0.03      (0.12)       n/a
Capital expenditures, net                   20,414     10,583         93
Net debt (includes working capital)          7,182      2,525        184
Weighted common shares o/s diluted(1)       29,295     23,330         26
-------------------------------------------------------------------------

Production
  Crude oil & NGLs (bbls/d)                    363        200         82
  Natural gas (mcf/d)                           14         84        (82)
-------------------------------------------------------------------------
  Total (boe/d)                                365        214         70

Realizations
  Crude oil & NGLs ($/bbl)                   84.24      55.72         51
  Natural gas ($/mcf)                         9.19       7.14         29
-------------------------------------------------------------------------
  Average ($/boe)                            84.07      55.04         53

Netbacks ($/boe) 
  Petroleum & natural gas revenue            84.07      55.04         53
  Processing Revenue                          0.28       0.33        (15)
  Royalties                                  (7.49)     (4.33)        73
  Operating costs                           (18.99)    (23.45)       (19)

-------------------------------------------------------------------------
Field netback                                57.87      27.59        110
-------------------------------------------------------------------------

(1) Per share amounts have been calculated on the weighted average number of
    shares outstanding after giving effect to the potential conversion of
    Class B Shares into Class A Shares at 10:1. 



Subsequent to December 31, 2008, Glamis:

- Expanded its bank line to $10.1 million representing an increase of 23%
relative to June 30, 2008.


- Increased its land holdings by adding an additional 2,328 acres of land in
southeast Saskatchewan and 892 acres in southwest Manitoba.


- Glamis' Vice President of Engineering has resigned his position with the
Company for personal reasons.


Outlook 

Glamis' 2008 operating and financial results are the best in the Company's
history. We had drilling success, production growth, high netbacks and strong
cashflows generated from our core area of southeast Saskatchewan. Glamis
replaced production by over six times the 2008 volume. Based on our success we
will continue to focus our technical expertise in southeast Saskatchewan. As
well, Glamis' technical team has identified high quality opportunities in
southwest Manitoba. It is our opinion that southwest Manitoba offers significant
upside and complements our southeast Saskatchewan assets.


Despite a successful year, Glamis finds itself in an environment of financial
instability. We have seen commodity prices decline steadily since the middle of
2008. As a result of this price decline access to capital has been severely
restricted. As such, Glamis has quickly adapted to this new economic
environment. We are using a conservative price forecast for the remainder of the
year.


Recognizing the commodity price fluctuations that face our industry Glamis
remains bullish on oil. We are in the business of adding reserves. We will
continue to explore for high quality, long life, light oil reserves in southeast
Saskatchewan and on our newly acquired acreage in southwest Manitoba. We will
continue to utilize the necessary tools required to increase our chance of
success. We are committed to our shareholders. Glamis' management, directors and
technical professionals continue to hold significant ownership positions
ensuring a strong alignment with that of our shareholders.


Glamis Resources Ltd. is a junior oil and gas company formed to generate and
develop its own prospects, acquire oil and gas properties and participate with
joint venture partners in oil and gas exploration and development in the Western
Canadian Sedimentary Basin. The Company's Class A Shares and Class B Shares
trade on the TSX Venture Exchange under the symbols GLM.A and GLM.B. The Company
currently has 24,190,442 Class A shares and 922,500 Class B shares outstanding.


FORWARD LOOKING STATEMENTS: Certain information regarding Glamis in this news
release including management's assessment of future plans and operations, timing
of drilling and tie-in of wells, productive capacity of the new wells and
productive capacity from different wells, expected production rates, drilling
success rates, dates of commencement of production, may constitute forward
looking statements under applicable securities laws and necessarily involve
risks and assumptions including, without limitation, risks and assumptions
associated with oil and gas exploration, development, exploitation, production,
marketing and transportation, loss of markets, volatility of commodity prices,
currency fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, inability to retain drilling rigs and other
services, unexpected decline rates in wells, wells not performing as expected,
delays resulting from or inability to obtain required regulatory approvals and
ability to access sufficient capital from internal and external sources. As a
consequence, actual results may differ materially from those anticipated in the
forward-looking statements. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and other factors
that could effect Glamis' operations and financial results are included in
reports on file with Canadian securities regulatory authorities and may be
accessed through the SEDAR website (www.sedar.com). Furthermore, the forward
looking statements contained in this news release are made as at the date of
this news release and Glamis does not undertake any obligation to update
publicly or to revise any of the included forward looking statements, whether as
a result of new information, future events or otherwise, except as may be
required by applicable securities laws.