Canadian Quantum Energy Corporation announced that its recently drilled Alexander 16A-11 56-27 W4 well (16A-11 Wel) is currently standing cased and will remain shut in pending further well log analysis and additional re-processing of the 16 square mile 3D seismic program. To date, only the Detrital zone has been perforated, but has not been fraced. Pending the re-evaluation of the 16A-11 Well and seismic, Canadian Quantum and its area partner, Sundance Energy Corporation will determine the potential commerciality of undertaking further completions on the Detrital formation and /or completing the Alexander formation. Utilizing the information obtained from the original 16-11 Well and the re-processed 3D seismic data, numerous additional drilling locations have been identified on the Company's jointly held 27 section Alexander permit. In addition to the Detrital and Alexander formations, Canadian Quantum is evaluating the potential for commercial production from the Basal Quartz, Ostracod and Wabamun formations on the Alexander Permit lands. The company holds 1,600 gross acres at Turin, Alberta and 17,280 gross acres /27 sections on the Alexander First Nations lands in Central Alberta along with various interests in approximately 174,000 gross acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play.

Canadian Quantum Energy Corp. announced that the drilling of the 16A-11-56-27W4 well (16A-11) is scheduled to commence this weekend. The 16A-11 well will be deviated approximately 185 meters to a seismically defined anomaly targeting the Detrital Sand. Drilling operations are anticipated to take approximately one week. Through a previously announced farmout arrangement, the company has completed a farmout to an arms' length third party on a small portion of the company's 50% owned, 27 section Alexander Property, located just north-west of Edmonton. The third party will participate in the drilling of the 16A-11 Test Well by paying 50% of all costs to earn a 30% interest. The third party also has the option to drill two additional wells from the same surface lease as the 16A-11 Test Well to earn a 25% interest by paying 25% of the related costs. The earned lands for the farmout only relate to the specific spacing units assigned to each well drilled. Canadian Quantum will maintain a 20% working interest in the 16A-11 Test Well, a 25% working interest in the two option wells and a 50% working interest in the balance of the 27 section Alexander Property. Canadian Quantum Energy Corporation holds 1,600 gross acres at Turin, Alberta and 17,280 gross acres /27 sections on the Alexander First Nations lands in Central Alberta along with various interests in approximately 174,000 gross acres covered by four permits in the St. Lawrence Lowlands, Quebec Utica Shale Play.

Canadian Quantum Energy Corp., Annual General Meeting, Jan 23, 2013.