Vancouver, BC - Channel Resources Ltd. ("Channel" or the "Company", TSX.V:CHU) announces that Mr. Louis P. Salley is resigning from the Board of Directors effective immediately due to potential conflicts of interest arising from his involvement in a new business venture. The management and board of Channel Resources wish to thank Mr. Salley for his many years of service to the Company, and wish him the best in his future endeavors.

Filing of Second Quarter Financial Statements

The Company also announces that it has filed its unaudited interim financial statements for the second quarter ended March 31, 2010 on the SEDAR system, together with its management discussion and analysis (MD&A) for the same period. The statements and MD&A are also available from the Company's website, at www.channelresources.ca.

For further information, contact:
Colin McAleenan, President and CEO
Cyrus Ameli, CFO & VP Corporate Affairs
Telephone 604.684.7098
info@channelresources.ca

Channel Resources Ltd. is a Canadian TSX.V listed mineral exploration Company with two major assets, the Tanlouka Gold Project in Burkina Faso, West Africa and the Fox Creek Lithium / Potash Brine Project in Alberta. At Tanlouka, drilling is expected to commence in the short term on multiple gold targets outlined by surface geochemistry, RAB drilling and geophysics survey results. At Fox Creek, a bulk sample of brine sourced from producing natural gas wells is undergoing process testing to ascertain the most efficient method of producing various industrial minerals from the brine, including lithium carbonate, potash, bromine and borates. The Company is financed to advance both projects through their current programs, and is actively searching for additional opportunities to expand its project portfolio.

Some of the statements contained herein are forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the price of minerals, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result of new information or future events or otherwise. Further disclosure on risk factors is available in the Company's various corporate filings at www.sedar.com.

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.

Associated File: http://www.channelresources.ca/i/pdf/CHU2010NR052810.pdf

25 KB in size, approx. 6 seconds to download at 56.6Kbps