CIC Energy reports third quarter 2008 results

    ROAD TOWN, TORTOLA, British Virgin Islands, Oct. 10 /CNW/ - CIC Energy
Corp. ("CIC Energy" or the "Company") (TSX: ELC, BSE: CIC Energy) reported a
loss for the three month period ended August 31, 2008 of $342,000 or $0.006
per share (basic and diluted), and a loss for the nine month period of
$4,431,000 or $0.08 per share (basic and diluted).
    The loss for the three and nine month periods are attributable to ongoing
corporate and exploration expenses of which office and general expenses are
the most significant component.
    Capitalized exploration costs amount to $112.8 million, with exploration
costs for the nine month period totaling $26.5 million.
    Consolidated Interim Financial Statements for the three and nine months
ended August 31, 2008, along with Management's Discussion and Analysis, have
been filed on SEDAR and are available at

For further information:

For further information: For additional information on CIC Energy and
its projects visit the Company's website at or contact:
Erica Belling, CFA, P.Eng., VP Investor Relations, Tau Capital Corp., Tel:
(416) 361-9636 x 243, Email:

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CIC Energy Corp.

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