SHM SynStream Energy Corp

SACCHARUM ENERGY CORP. (TSX VENTURE:SHM) ("Saccharum" or "the Corporation")
announced today that it has signed a Letter of Intent with Marifil Mines Ltd.
(MFM: TSX-V) ("Marifil") and Marifil's Argentine subsidiary Oxbow Holdings Corp.
("Oxbow") in respect of the purchase of an interest in and the undertaking of an
exploration program on the K-2 Potash property in Neuquen Province, Argentina.


Saccharum has agreed to pay $10,000 for an exclusive 60 day due diligence period
to confirm title and visit the property, and further has agreed to purchase all
of the shares of Oxbow for a price of one cent per share. Marifil then agrees to
restructure its underlying agreement with Oxbow whereby the Corporation can earn
a 75% interest in the K-2 property. 


Saccharum will pay Marifil US$500,000 in cash plus 2,000,000 Saccharum common
shares over three years. The first year's payment to Marifil will be US$150,000
in cash and 1,000,000 shares upon Saccharum's completion of a financing. The
Corporation further agrees to spend US$4,500,000 in work over the next four
years as follows: US$1,000,000 per year for the first three years and
US$1,500,000 during the fourth year. 


Saccharum will pay Marifil performance bonuses of 1,500,000 shares upon
completion of a positive NI 43-101 compliant ore resource and a further
1,500,000 shares following completion of a favourable Feasibility Study. If
Saccharum's share structure exceeds 75,000,000 shares during this agreement the
shares payable to Marifil shall be adjusted proportionately. Upon completion of
Saccharum's earn-in all further expenditures shall be shared on the basis of the
party's retained working interests. If a partner fails to pay its share that
partner shall be reduced to a 1.5% Net Smelter Royalty. Saccharum shall have the
right to purchase Marifil's royalty for US$15,000,000. Finally, Marifil also
agreed to give Saccharum Right of First Offer for the Company's K-3 potash
project located in neighboring Mendoza Province.


Saccharum has also agreed to effect a restructuring of its Board of Directors by
securing the appointment of Messrs. Todd Montgomery and Brent Walter as
directors. In addition, the Corporation intends to complete a private placement
financing in which it will issue common treasury shares priced at $0.50 to raise
a minimum of $10,000,000 and a maximum of $20,000,000.


Mr. Johannes Kingma, President of Saccharum, made the following comments on the
execution of the Letter of Intent: "We believe this is an important development
for Saccharum. It allows us to access and evaluate what may be significant
potash resources in the Southern hemisphere, and affords us an opportunity to
invite our partners from previous transactions, Messrs. Todd Montgomery and
Brent Walter, to assist us in managing these operations. Mr. Montgomery was
formerly President and CEO of Anglo Potash and Mr. Walter was a director of
Anglo Potash. Both men guided Anglo through the discovery and development phase,
brought in BHP Billiton to develop the potash deposit, and eventually sold
Anglo's remaining 25% of the deposit for US$284,000,000. Bringing these
gentlemen onto Saccharum's board will certainly lend credibility to the
development of this project."


This agreement is subject to approval by the Boards of Directors of Saccharum,
Marifil, and Oxbow and the TSX. Saccharum has also completed a grant of stock
options to certain members of its management and support team. In that regard,
options to purchase 2,000,000 common shares at a price of $0.50 were granted in
accordance with the Corporation's Stock Option Plan. The Corporation has
determined that exemptions from the various requirements of TSX Venture Exchange
Policy 5.9 are available for the granting of the options. 


General Disclaimer

Saccharum and its management have taken all reasonable care in producing and
publishing information contained in this news release, and will endeavor to do
so on a periodic basis. Material in this news release may still contain
technical or other inaccuracies, omissions, or typographical errors, for which
Saccharum assumes no responsibility. Nor does Saccharum warrant or make any
representations regarding the use, validity, accuracy, completeness or
reliability of any claims, statements or information on this site. Under no
circumstances, including, but not limited to, negligence, shall Saccharum be
liable for any direct, indirect, special, incidental, consequential, or other
damages, including but not limited to, loss of programs, loss of data, loss of
use of computer of other systems, or loss of profits, whether or not advised of
the possibility of damage, arising from your use, or inability to use, the
material from this news release. The information is not a substitute for
independent professional advice before making any investment decisions.
Furthermore, you may not modify or reproduce in any form, electronic or
otherwise, any information on this site, except for personal use unless you have
obtained our express written permission. 


Forward-Looking Statements

This news release may contain forward-looking statements, including but not
limited to comments regarding predictions and projections. Forward-looking
statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.


For further information regarding Saccharum Energy Corp., please refer to the
Company's filings available on SEDAR (Http://www.sedar.com).

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