Landdrill International Inc - IOC Drilling Contract

MONCTON, NB, March 22 /CNW/ -- 
MONCTON, NB, March 22 /CNW/ - Landdrill International Inc. (the "Company") (TSXV: LDI) reports that it has signed a contract with the Iron Ore Company of
 Canada for drilling to be performed in 2011, 2012 and 2013 in Labrador,
 utilizing 2 of the Company's Canadian-based drills. Assuming this
 contract is completed to its terms, the Company expects that it will
 generate over $9,000,000 in revenue for 2011, 2012 and 2013
 collectively.


This contract is to be performed in conjunction with a joint venture
 entered into by the Company with the Innu in Labrador in 2010. This
 joint venture completed 3 contracts in 2010 with Alderon Resource Corp.
 (TSXV: ADV), Iron Ore Company of Canada and Rare Earth Metals Inc
 (TSXV: RA.V).


Ron Goguen Sr., the President and CEO of Landdrill said, "I am very pleased to announce the signing of this contract as it
 represents the success and growth of our joint venture with the Innu in
 Labrador. In addition, this joint venture has established a permanent
 presence with its office in Wabush, NL which we look forward to further
 developing in the coming years."


For a review of the Company's results, copies of Landdrill's financial
 statements along with the management discussion and analysis (MD&A) can
 be found on SEDAR (www.sedar.com).


About Landdrill


Landdrill is a growth oriented international drilling company with a
 focus on the metals and minerals industry. The Company continues to
 explore opportunities for growth in key markets, either through
 establishment of new branch offices or through acquisitions as
 opportunities arise.  The Company now has 40 drills with full branch
 operations in Canada, Mexico, Mongolia and Russia.


Landdrill is a forward looking company that has drilled all over the
 world.  Our people have drilled at altitudes over 15,000 feet and in
 temperatures ranging from -50 degrees Celsius to +50 degrees Celsius. 


We view all our customers as partners in every venture because we know
 that their success ensures our future!


We offer customized drilling programs to meet your every need and we
 always look forward to our next challenge.


For detailed information on Landdrill International Inc., or to request
 a bid submission for your project worldwide, please visit our website
 at www.landdrill.com.


Forward-looking information


This press release may contain forward-looking statements (within the
 meaning of applicable securities laws) relating to business of
 Landdrill International Inc. (the "Company") and the environment in which it operates. Forward-looking statements
 are identified by words such as "believe", "anticipate", "expect",
 "intend", "plan", "will", "may" and other similar expressions. These
 statements are based on the Company's expectations, estimates,
 forecasts and projections. Although the Company believes the
 expectations expressed in such forward-looking statements are based on
 reasonable assumptions, including, without limitation that all terms of
 the contracts will be fulfilled in their entirety, such statements are
 not guarantees of future performance and actual results may differ
 materially from those in forward looking statements. Factors that could
 cause the actual results to differ materially from those in
 forward-looking statements include commodity prices, availability of
 personnel, materials and equipment, actual performance of equipment and
 processes relative to specifications and expectations, unanticipated
 environmental impacts and continued availability of capital and
 financing and general economic, market or business conditions. These
 risks and uncertainties are discussed in the Company's regulatory
 filings available at www.sedar.com. 


There can be no assurance that forward-looking statements will prove to
 be accurate as actual outcomes and results may differ materially from
 those expressed in these forward-looking statements. Readers,
 therefore, should not place undue reliance on any such forward-looking
 statements. Further, a forward-looking statement speaks only as of the
 date on which such statement is made. The Company undertakes no
 obligation to publicly update any such statement or to reflect new
 information or the occurrence of future events or circumstances except
 as required by law.


Neither the TSX Venture Exchange nor its Regulation Services Provider
 (as that term is defined in the policies of the TSX Venture Exchange)
 accepts responsibility for the adequacy or accuracy of this release.


To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/March2011/22/c5324.html



p Ronald Goguenbr/ President and Chief Executive Officerbr/ Landdrill International Inc.br/ (506) 388 - 8961br/ a href="http://www.landdrill.com"www.landdrill.com/a /p p bRenmark Financial Communications Inc./bbr/ John Boidman: a href="mailto:[e-mail]"[e-mail]/abr/ Peter Mahzari: a href="mailto:[e-mail]"[e-mail]/abr/ Tel.: [phone] or [phone]br/ a href="http://www.renmarkfinancial.com"www.renmarkfinancial.com/a /p 

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