Shoal Point 3K-39 Well Update - Western Newfoundland

Trading Symbols:
TSX-V: CQV
Frankfurt Exchange: DFM

ST. JOHN'S, Jan. 14 /CNW/ - Canadian Imperial Venture Corp. (the "Company" / "CIVC") is pleased to announce that it has been informed by the Operator, Dragon Lance Management Corporation ("DLMC") that operations have commenced on the Shoal Point 3K-39 well in Western Newfoundland.  The 3K-39 well will be directionally drilled from an onshore surface location on the northern tip of Shoal Point to a subsurface target beneath Port au Port Bay and is designed to test the Green Point Oil-in-Shale Resource Play in Permit EL 1070.

Drilling, using the Nabor's #112 drill rig is estimated to take between 20 and 30 days.  The planned total drilled depth of the 3K-39 well is 2200m (1450m total vertical depth).  The drilling of the 3K-39 well will be conducted as a "tight hole".

Canadian Imperial Venture Corp. is an independent Canadian-based energy company, a leader in the Green Point oil-in-shale play. 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.

By:  "Steven M. Millan"
Steven M. 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.

SOURCE CANADIAN IMPERIAL VENTURE CORP.

For further information:

Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. C
St. John's, NL   A1C 6J9
Tel.: (709) 739-6700 / Fax: (709) 739-6605 / E-mail: info@canadianimperial.com / website: www.canadianimperial.com

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CANADIAN IMPERIAL VENTURE CORP.

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