GARNEAU INC. ANNOUNCES APPROVAL OF LEASE AND POSSIBLE SALE OF SUBSTANTIALLY
ALL OF ITS PROPERTY

NEX - GAR.H

NISKU, AB, Nov. 10 /CNW/ - Garneau Inc. ("Garneau" or the "Corporation") announces that on October 27, 2010, the shareholders of the Corporation approved the special resolution in respect of the proposed lease and possible sale of substantially all of the property of the Corporation to an arm's length third party.  The lease in favour of the arm's length third party, which contains an option to purchase Garneau's Nisku, Alberta property, is now in effect.

Forward-Looking Information
Certain information in this press release contains forward-looking statements. These statements relate to future events or actions. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "possible", "intends", "would", "anticipated", believes", "anticipates", "will", "expected" and similar expressions. These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Garneau's control. Actual events or actions could differ materially from those expressed in, or implied by, such forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Garneau will derive from them. Except as required by law, Garneau undertakes no obligation to publicly update or revise any forward-looking statements.

Neither 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.

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For further information:

Glen Garneau
Acting President and CEO

Darlene Kirkpatrick
Project and Communications Manager

Phone: [phone]

Fax:      [phone]