CSP

Canadian Shield Resources Inc. (TSX VENTURE:CSP) ("Canadian Shield" or the
"Company") is pleased to announce the signing of a letter of intent with
Solitario Resources Corporation (TSX:SLR)(AMEX:XPL) to acquire La Tola, an
epithermal gold-silver prospect (the "Property") in the Caylloma Province of the
Department of Arequipa, southern Peru. The Property comprises 1,000 hectares in
one exploration license, Zoraida Uno.


Canadian Shield completed its due diligence on the Property and waived its
conditions. Under the terms of the binding letter of intent, Canadian Shield has
a 4 year earn-in option to purchase 100% of the Property by incurring
exploration expenditures of US$2 million over the next 4 years, and by making a
cash payment of US$2 million at the end of the 4 year option period. Solitario
Resources Corporation ("Solitario') will retain a 2% Net Smelter Return that the
Company may purchase at its option for US$1.5 million prior to commercial
production. The exploration expenditures and cash payments schedule is as
follows:




--------------------------------------------------------------------------
The terms of the cumulative exploration
 expenditures:                                             $US         $US
--------------------------------------------------------------------------
--------------------------------------------------------------------------
                                                  Expenditures  Cumulative
Prior to December 31, 2008;                        $   200,000 $   200,000
Prior to December 31, 2009;                        $   300,000 $   500,000
Prior to December 31, 2010; and                    $   500,000 $ 1,000,000
Prior to December 31, 2011                         $ 1,000,000 $ 2,000,000
--------------------------------------------------------------------------
--------------------------------------------------------------------------
                                                   $ 2,000,000
--------------------------------------------------------------------------
The terms of the cash payments:                            $US         $US
--------------------------------------------------------------------------
--------------------------------------------------------------------------
                                                      Payments  Cumulative
Paid on signing of Letter of Intent                $     3,000 $     3,000
Prior to December 31, 2011                         $ 2,000,000 $ 2,003,000
--------------------------------------------------------------------------
                                                   $ 2,003,000
--------------------------------------------------------------------------
--------------------------------------------------------------------------



The Property is located 2.5 hours by paved and gravel road north of Arequipa,
Peru's second largest city, in a prolific mining region host to a number of
active, high grade, underground gold and silver mines including the Ares &
Arcata Mines operated by Hochschild Mining PLC, and the Shila & Paula Mines
operated by Compania Minera Buenaventura.


The Property lies in a region varying from 4,300 to 4,600 meters above sea level
where gold and silver mineralization is hosted in Tacaza Formation andesitic and
dacitic volcanics and subvolcanic intrusions of Miocene age. Gold bearing quartz
veins, stringers and local quartz stockwork occur intermittently along a 12 x 3
km structural corridor. Solitario mapped and sampled the property discovering
gold on surface along this structural trend with values up to 30 g/t gold.
Solitario subsequently optioned the property to Newmont Mining Corporation in
2004. Newmont mapped geology, took over 4,000 surface rock, soil, bleg, and fine
talus samples, completed geophysical surveys including Magnetometry, Gradient
Array and Pole Di-Pole IP surveys, and drilled 20 widely spaced (200-500 meters
apart) reverse circulation drill holes totally 2,511 meters. Although Newmont
did not continue work on the Property, Canadian Shield believes the composite
technical data and present geologic interpretation suggests major scale, upside
exploration potential remains at La Tola.


The Company has filed for additional exploration licenses to consolidate the
ground between La Tola and its Ccello Ccello Property held by Gallant Minerals
Peru, a 90% owned subsidiary of Canadian Shield. The Property combined with
Ccello Ccello and the additional exploration licenses consolidates a contiguous
block totalling 7,000 hectares in a very prospective geologic environment where
a number of surface gold occurrences are exposed along a 12 kms long, north
northeast structural corridor. The style of mineralization along this structural
corridor varies from discreet, well defined, banded silica, low sulfidation
veins to disseminated mineralization along dome margins to stratigraphically
controlled "mantos" or sub-horizontal tabular bodies. The presence of a number
of oblique trending northeast, north, and northwest graben structures are
suggested by geologic evidence and could play a major role in the localization
of mineralization.


"We have sound geologic evidence that continued exploration could lead to the
discovery of economically significant gold mineralization. The geologic
environment we see along this structural zone is similar to that of the Fruta
del Norte project where Aurelian Resources Inc. has had significant success in
Ecuador. We will continue to compile existing data and advance our technical
analysis of this land package to guide ongoing exploration" said Phil Anderson,
Canadian Shield's VP Exploration.


About Canadian Shield Resources Inc.

Canadian Shield is a mineral exploration company building shareholder value
through the acquisition of major scale, base and precious metal projects in
prolific and established mineral provinces in South America. Efforts are
primarily focused on Peru, a very prospective region ranking highly in the
world's production of gold (5th), silver (1st), copper (3rd), zinc (3rd) and tin
(2nd). The Company controls nine base and/or precious metals projects, eight in
Peru and one gold project in Chile through recent acquisitions by its 100% owned
Peruvian subsidiary Compania Minera Canadian Shield Peru S.A.C. including the
90% acquisition of Gallant Minerals Peru in 2004 and Anderson Peru Mining &
Exploration in April 2007. Canadian Shield is focused on project generation and
joint venture opportunities to provide shareholders with interests in a broad
portfolio of South American mineral properties. The Company's shares are listed
on the TSX Venture Exchange (TSX VENTURE:CSP).


Statements in this press release, other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.


To learn more visit: www.canadianshieldresources.com.

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