Osum Welcomes Rick Walsh as New VP, Projects

Posted: Nov. 24, 2009

November 24, 2009 – Calgary, Canada – Osum Oil Sands Corp (“Osum”), an emerging in situ oilsands company, announced today that long-time industry veteran Rick Walsh has joined the Company as Vice President, Projects.

Mr. Walsh will be responsible for major project delivery and execution, and will provide overall direction to Osum’s projects.

Most recently, Mr. Walsh was a Project Director for Suncor Energy where over his 14 year career there, he led projects up to $3B. He was involved in Firebag Stages 5 & 6, the MNU Project and the MCU Upgrader expansion projects. Before joining Suncor, he was with Amoco Canada for 6 years in their Grand Prairie operation.

Mr. Walsh is a graduate of the University of Alberta (BSc in Chemical Engineering) as well as a NAIT graduate (Chemical Technology).

Osum is a privately held Alberta based company focused on the application of in situ recovery technologies within Canada’s oil sands and carbonates.

Cautionary Information and Forward Looking Statements

Certain statements contained in this press release, including the documents incorporated by reference, may contain projections and “forward-looking statements” within the meaning of that phrase under Canadian and U.S. securities laws. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions may be used to identify forward-looking statements. Those statements reflect our current views with respect to future events or conditions, including prospective results of operations, financial position, predictions of future actions or plans or strategies.?

Certain material factors and assumptions were applied in drawing our conclusions and making those forward looking statements. By their nature, those statements reflect management’s current views, beliefs and assumptions and are subject to certain risks,
uncertainties, known and unknown, and assumptions, including, without limitation, machinery development or production delays, changing environmental regulations, the ability to attract and retain business partners, the ability to exploit hydrocarbon resources with our technology, future levels of government funding, the need to obtain and maintain proprietary rights over our technology, competition from other technologies, the ability to access the capital required for research, technology development, operations and marketing, the need to generate positive cash flow in the foreseeable future, changes in energy prices and currency levels.?

Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying our projections or forward-looking statements prove incorrect, our actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements whether as a result of new information, plans, events or otherwise.?

Our securities are not traded on any stock exchange in Canada and thus, Osum is not subject to regulation by any Canadian stock exchange. Our securities are also not registered under the United States Securities Act of 1933 nor are they traded on any securities or stock exchange in the United States. As a result, we are not presently subject to the reporting, certification or other requirements imposed on U.S. registered issuers under, among other things, U.S. Sarbanes-Oxley Act of 2002 (“SOX”).

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For more information:
Justin Robinson
Manager, Communications
jrobinson@osumcorp.com

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