TORONTO, ONTARIO--(Marketwire - May 29, 2008) - Canadian Orebodies Inc. ("Orebodies") (TSX VENTURE:CO) is pleased to announce that airborne geophysical surveys have been completed over 8 blocks held 100% by Orebodies (subject to a 2% NSR, 1% each being held by Noront Resources ("Noront") and by Temex Resources ("Temex")) which have identified several high priority drill targets. The properties are located in the general area of McFaulds Lake in Northern Ontario to the north of the Noront high grade Ni-Cu-PGE discovery. Preliminary data has been received and evaluation of the data has outlined several targets which represent similar characteristics to that of Noront's Eagle One discovery all with corresponding magnetic highs that might be caused by the presence of ultramafic rocks with or without accompanying sulphide mineralization.

Orebodies is currently evaluating these targets for ground geophysical surveys, field work and for drill accessibility during the summer months for a follow-up diamond drilling program.

Property Status:

Orebodies has an interest in 3,351 claim units covering more then 53,000 hectares in and around the 'Ring of Fire'. Property breakdown is as follows:

 
- 652 units in which Orebodies holds a 100% interest
  (subject to a 2% NSR, 1% each being held by Noront and by Temex)
 
- 603 units in which Orebodies has an option to earn a 60% interest
  (Claims held by 1289839 Alberta Ltd., a wholly-owned subsidiary of
  Coordinates Capital Corporation ("CCC"))
 
- 820 units in which Orebodies holds a 50% interest
  (Interest held through a joint venture with MacDonald Mines and Temex
  in which each has a 25% interest)
 
- 1,276 units in which Orebodies holds a 1% NSR
  (Claims held by Noront and Temex, located in the upper and middle
  of the 'Ring of Fire' and which do not form part of the Eagle 1 or 2
  discoveries reported by Noront)
 

Airborne geophysical surveys are currently being completed over the ground that was recently optioned from 1289839 Alberta Ltd., a wholly-owned subsidiary of CCC. CCC is privately owned company that is controlled by Mr. Chris Verbiski, who co-discovered the Voisey's Bay nickel-copper-cobalt deposit located in Labrador in 1993. One of the claim groups that is subject to the above mentioned option agreement lies less than 2 km's from the recent WSR-Metalex-Artic Star discovery announced May 22, 2008. It should also be noted that Orebodies also holds a 1% NSR on the ground held by Temex that directly borders the discovery announced.

Gordon McKinnon, Orebodies President and CEO stated "We are thrilled to report on the numerous targets we have identified in this relatively unexplored area and we are aggressively moving forward to bring these targets to a drill ready stage. It is also very encouraging for us that the recent WSR/Metalex discovery lies in such close proximity to our newly optioned ground.