CANADIAN PHOENIX RESOURCES CORP. - RESIGNATION OF MR DAVID TUER FROM BOARD OF
DIRECTORS

Symbol: CXP-TSXV

CALGARY, Aug. 31 /CNW/ - CANADIAN PHOENIX RESOURCES CORP. ("Canadian Phoenix") announces that Mr. David A. Tuer has resigned effective immediately from the Board of Directors of Canadian Phoenix. Mr. Tuer joined the Board of Canadian Phoenix in August 2008 as part of Canadian Phoenix's acquisition of a 58% interest in Marble Point Energy Ltd ("Marble Point"). Mr. Tuer was Vice-Chairman of the Board of Directors and Chief Executive Officer of Marble Point, and is currently Vice Chair and Chief Executive Officer of Teine Energy Ltd (previously Marble Point). Canadian Phoenix disposed of its interest in Marble Point in June 2010, and Mr. Tuer's resignation from the Board of Canadian Phoenix follows on from the conclusion of that transaction.

The Board would like to thank Mr. Tuer for his services as a member of the Board of Canadian Phoenix over the past two years, and wishes him best of luck in his future endeavors.

About Canadian Phoenix

Canadian Phoenix Resources Corp. is a publicly-traded junior oil and gas exploration, development and production company with operations in Western Canada. Canadian Phoenix's shares trade on the TSX Venture Exchange under the symbol "CXP".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

%SEDAR: 00010421E

For further information: For further information: Michael Atkinson, President & CEO, Phone: (604) 689-1428; Tim Moran, Chief Financial Officer, Phone: (403) 920 0040

Organization Profile

CANADIAN PHOENIX RESOURCES CORP.

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