Canadian Imperial Venture Corp. Updates

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

ST. JOHN'S, Dec. 8 /CNW/ - Canadian Imperial Venture Corp. ("CIVC") is pleased to announce the following updates:

Green Point Oil-in-Shale Project:  CIVC has been informed by the Operator, Dragon Lance Management Company, that a rig has been secured for the project and permitting is ongoing.

Odd Twins Project:  A rig has been secured, permitting is underway and mining core-hole drilling is projected to start shortly.

Parson's Pond Drilling Program:  The Operator, Nalcor Energy, has announced that the second well in its program encountered natural gas while drilling and the well is being suspended pending a review of data. 

Testing of the first well of the planned 3 well program, is about to commence and a test rig is on site.

The third well in the program is expected to commence early in 2011.

CIVC holds a 1.5% gross over-riding Royalty on production from Permits 03-101 and 03-103 on which the first and third wells are located.

CIVC Industrial Concept Scoping Study:  The Study will provide a preliminary assessment of the concept of using oil and natural gas produced in Western Newfoundland to drive industrial development in the region.  Stantec Consulting has been engaged to conduct the Study.

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.

For further information:

Canadian Imperial Venture Corp.
P.O. Box 6232, Stn. C
St. John's, NL   A1C 6J9
Tel.: [phone] / Fax: [phone]
E-mail: [email protected] / website: www.canadianimperial.com