Channel Resources Announces Oversubscription of Private Placement

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 13, 2010) –

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Channel Resources Ltd. (“Channel” or the “Company”) (TSX VENTURE:CHU) announces that its private placement described in a news release on December 2, 2009 for up to 3,750,000 units (a “Unit”) at a price of CDN$0.08 per Unit has been oversubscribed. The private placement now consists of a total 4,225,000 Units for gross proceeds to the Company of $338,000, including subscriptions accepted by the Company in a partial closing of the financing announced December 21, 2009.