Long Harbour Announces Balance Sheet and Management Reorganization

Long Harbour Exploration Corp. (TSX VENTURE:LHC) (the "Company") has made
changes to the CEO and CFO positions. In addition, the Company has reorganized
certain aspects of its outstanding payables, which once approved will strengthen
its balance sheet.


Long Harbour CEO, Peter Espig, will step down as CEO and assume the role of CFO,
replacing Geoff Lee. Charles Austin, who has been involved in the Company since
its IPO, will assume the role of the Company's acting CEO. 


As part of the balance sheet reorganization, management has unanimously agreed
to discount accrued fees by 35% and to settle a remaining portion of accrued
payables by converting debt for shares.


Existing management remuneration agreements have been unanimously terminated and
replaced with new agreements that reduce the Company's monthly burn rate. Under
the new remuneration agreements no officer or senior employee will currently
receive more than $2,500.00 in monthly fees. 


Senior management is currently considering various non-dilutive arms-length
exploration and joint venture proposals on its highly-prospective uranium
properties located in Saskatchewan's Basin. In addition, the Company continues
to review other potential opportunities in various business sectors. 


On behalf of the Board of Directors

FOR FURTHER INFORMATION PLEASE CONTACT: 
Long Harbour Exploration Corp.
Peter Espig
CEO
778-385-1213
[e-mail]
www.longharbourexploration.com