From: CNW Portfolio System [mailto:portfolio@newswire.ca]
Sent: February 9, 2009 1:30 PM
To: Portfolio E-Mail
Subject: Canadian Imperial Venture Corp. - Alberta Drilling

Transmitted by CNW Group on : February 9, 2009 11:56

Canadian Imperial Venture Corp. - Alberta Drilling

            Trading Symbols:

            ----------------

            TSX Venture Exchange: CQV

            Frankfurt Stock Exchange: DFM

            ST. JOHN'S, Feb. 9 /CNW/ - Canadian Imperial Venture Corp. ("CIVC" / the

"Company") is pleased to provide the following update on its Alberta program:

            As indicated in a News Release dated November 19, 2008, the company had

entered into a farmout agreement covering certain Company lands in Southern

Alberta. The first well under the farmout agreement was drilled and abandoned,

having failed to discover economic quantities of natural gas. The significance

of this well to be Company's overall Alberta strategy is limited to the local

area in the vicinity of the well and the Company remains committed to

achieving its shallow gas objectives in Alberta.

            Due to existing tight financial markets and low natural gas prices, the

Company is proceeding slowly and cautiously and will continue its strategy of

getting wells drilled on its lands in Alberta through farmouts. To this end,

the Company is currently in discussions with the current farmee on extending

the existing Area of Mutual Interest to include additional prospects.

            Canadian Imperial Venture Corp. is an independent Canadian-based energy

company with interests in petroleum exploration and development in western

Newfoundland and in western Canada. 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.

            "Steven 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.

-30-

/For further information: Canadian Imperial Venture Corp., (709)

739-6700, Fax: (709) 739-6605, info@canadianimperial.com;

www.canadianimperial.com/