Canadian Imperial Venture Corp. - News Release



    Trading Symbols:
    TSX Venture Exchange: CQV
    Frankfurt Stock Exchange:  DFM

    ST. JOHN'S, July 11 /CNW/ - Canadian Imperial Venture Corp. (the
"Company") has been informed by the Operator, Shoal Point Energy Limited
("SPE") that, as at 0700 hrs, July 10, 2008, the SPE et al 2K-39-Z well was
being drilled ahead at 3260m in the Catoche Formation on the way to
penetrating the Boat Harbour and Watt's Bight Formations.
    It is noted that this exploration well was programmed, engineered and
licensed, from the beginning, to test potentially prospective horizons within
the St. George's Group comprising the Aguathuna, Catoche, Boat Harbour and
Watt's Bight formations. While drilling operations are ongoing and before the
final logs are run and interpreted, the Company will not speculate on the
outcome of the well based on incomplete information. When the hole has reached
TD and has been logged and tested, as appropriate, the Company will make a
statement on the results of the well based on a comprehensive suite of
information. It is currently estimated that drilling and logging may be
completed by the end of next week.

    Canadian Imperial Venture Corp. is an independent Canadian-based energy
company with interests in petroleum exploration and development in western
Newfoundland and in western Canada. Eastern Canada is the home to such
developments as the Hibernia, Terra Nova, White Rose, Sable Island, Deep
Panuke, and McCully fields.

    CANADIAN IMPERIAL VENTURE CORP.


    "Steven Millan"
    ---------------
    Steven Millan, P.Geo.
    Chairman and CEO


    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY  FOR  THE  ACCURACY  OF THIS PRESS RELEASE.

    This release includes certain forward looking statements which reflect
beliefs, expectations, objectives and goals which are believed to be
reasonable at the time such statements are made. Actual results could differ
materially from anticipated results and may be impacted upon such factors as
commodity prices, political developments, legal decisions, market and economic
conditions, industry competition, the weather, changes in financial markets
and changing legislation.




For further information:

For further information: Canadian Imperial Venture Corp., (709)
739-6700, Fax: (709) 739-6605, info@canadianimperial.com;
www.canadianimperial.com

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Canadian Imperial Venture Corp.

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