Xemplar Energy

December 3, 2008

William J. Harley III Joins Xemplar Board And Is Appointed President

Vancouver, November 11 2008 - The Board of Directors of Xemplar Energy Corp. (TSX-Venture: XE, Frankfurt: E7R, Namibia: XEM) ("Xemplar" or the "Company") is pleased to announce that effective immediately, William J. (Mickey) Harley III has joined the Company's Board of Directors and as its President.

Peter Koep stands down as interim President to facilitate this new appointment and will continue to serve as Director of Xemplar. The Board is extremely grateful to Mr. Koep for being prepared to hold the reins after our previous President was forced to stand down for medical reasons.

Mr. Harley, a graduate of Yale School of Management (Masters in Public and Private Management), is the founder, CEO, President and Senior Portfolio Manager of Fursa Alternative Strategies ("Fursa"), a New York-based hedge fund that controls 19.9% of the 119.6 million common shares of Xemplar. Mr. Harley is responsible for all phases of Fursa company management including organizational structure, investment processes (including but not limited to organization, deal screening, due diligence, structuring, execution, monitoring, and realization of investments), hedging and risk management, marketing strategies, investor relations, budgeting and financial monitoring, and strategic direction. He has grown Fursa to approximately $1.5 billion in assets under management, and over 50 personnel including 30 investment professionals located in New York, London, Hong Kong and Mumbai. He is an experienced global investor, with strong contacts and interest in North America, South and Central America, the Caribbean, Western and Easter Europe, Central Asia, Asia, and the Middle East. Mr. Harley has served as a Board of Director of public and private companies, including Metromedia International Group, Inc., Integral Systems, Inc., Coastal Greenland Limited, JL French, Frederick's of Hollywood, and Interboro Insurance Company, Strix, LLC, and Seitel Corporation.

Xemplar's Board of Directors believes Mr. Harley's experience in the capital markets, sound business background, and global business associations will be of considerable value in developing its Namibian assets to their full potential and building shareholder value. He will join Mr. Simon Tam, Chief Executive Officer in providing strategic, corporate, operational and financial direction and the day-to-day tactical management of Xemplar.

Mr. Tam comments, "The appointment of William (Mickey) Harley as President and Director marks a significant milestone for Xemplar Energy. The fact that someone of Mr. Harley's professional experience, background, and reputation has accepted this responsibility is validation that the Company is on track to fulfill our vision of establishing Xemplar as a mid-tier exploration company. We are extremely pleased and excited that someone of Mr. Harley's caliber has joined the management team at Xemplar."

About Xemplar Energy Corp.

Xemplar Energy Corp. is a Canadian-based junior resource company focused on uranium exploration in Namibia. The Company holds a 100% rights to uranium properties in the Engo Valley, Cape Cross, Aus-Garub and Warmbad regions through its wholly owned Namibian subsidiary Namura Mineral Resources Pty. The Company currently holds Exploration Prospecting Licenses (EPL) for its Cape Cross, Aus, Garub and Warmbad properties totaling 7,382 square kilometers and is waiting to be awarded EPLs for its Engo Valley property. With the current EPLs that it holds, it is the largest uranium exploration license holder in Namibia. Upon being awarded the outstanding EPL for Engo Valley, the Company will possess a land package covering nearly 8,500 KM�, further strengthening the Company's dominant land position.

The primary focus of Xemplar Energy's exploration work in Namibia is the Warmbad uranium project, where the Company is on target to complete 40,000 metres of exploration drilling during 2008. The Warmbad property hosts a number of significant uranium occurrences, which the Company is aggressively developing. As at Rossing, the Namibian uranium mine which contributed 7% of the global uranium oxide production in 2007, the alaskites at the Company's Warmbad project are relatively thin-sheeted leucogranites (i.e., light colored granite rocks) which were layered within the country rocks.

With $16.0 million (CDN) cash on hand, the Company is in a strong financial position to carry out its exploration programs and corporate objectives for the next 24 months.

Mike Magrum, P.Eng., a qualified person under National Instrument 43-101 and Director of Xemplar, has approved the technical content of this news release.

On behalf of the Board of Directors,

Simon Tam
CEO and Director
Xemplar Energy Corp.
 
 

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Thank you for your interest in Xemplar Energy Corp.

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