Labrador Technologies Inc. Announces Termination of Previously Announced Private Placement Financing and Initiates a New Private

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Labrador Technologies Inc. ("Labrador") (TSX VENTURE:LTX) announces that
negotiations have lapsed and that it has determined not to proceed with the
non-brokered Private Placement for up to 40,000,000 units of Labrador at a price
of $0.05 per unit, for gross proceeds of up to $2,000,000, previously announced
in Labrador's Press Release dated June 9th, 2009.


Labrador also announces that it is initiating a new non-brokered Private
Placement Financing for up to 15,000,000 units of Labrador, at a price of 10
cents per unit, for gross proceeds of up to $1,500,000. The units will consist
of common shares at a price of 10 cents per share, and 1/2 share warrants at 20
cents per share, exercisable for 1 year. Labrador requires the proceeds to
eliminate its current working capital deficiency, and for the ongoing
development and marketing of its suite of software products, especially
Labrador(R) eTriever(R).


The Private Placement is subject to the approval of the TSX Venture Exchange
Inc. (the "TSXV")


Labrador eTriever (www.etriever.com) is a secure, web-based, cost effective,
generic data retriever, which thrives in complex database environments, such as
the oil and gas industry. As a web-based offering, eTriever requires no
installation, no CD updates, and no maintenance, while providing
"minimal-clicks" for searching, reporting, and exporting capabilities. eTriever
employs both Microsoft(R)'s Virtual Earth and Google(R) Map to view satellite
imagery mapping. Importantly, eTriever(TM) goes well beyond conventional oil and
gas web access to provide wireless data retrieval for proven handheld devices,
such as Blackberries(R), Palm(R) Treos(TM), Microsoft Windows Mobile(TM) Smart
Phones, and when available Apple's iPhone.


ADVISORY: Except for the historical and present factual information contained
herein, the matters set forth in this news release, including words such as
"expects", "projects", "plans", "anticipates", and similar expressions, are
forward-looking statements that represents management of Labrador's internal
projections, expectations or beliefs concerning, among other things, future
operating results and various components thereof or the economic performance of
Labrador. The projections, estimates and beliefs contained in such
forward-looking statements necessarily involve known and unknown risks and
uncertainties, which may cause Labrador's actual performance and financial
results in future periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking statements.
These risks and uncertainties include, among other things, those described in
Labrador's filings with the Canadian securities authorities. Accordingly,
holders of Labrador's shares and potential investors are cautioned that events
or circumstances could cause results to differ materially from those predicted.
Labrador disclaims any responsibility to update these forward-looking statements
except as required by applicable securities legislation.