Rio Alto Exploration Ltd.

Rio Alto Exploration Ltd. has retained CIBC World Markets to divest Kirby oil-sands leases containing 26 sections, eight wells per section, with mineral rights in the McMurray and Wabiskaw zones in the Athabasca oilsands region. Rio Alto has estimated 15,000 to 20,000 barrels of oil of production per day and 345 million barrels of bitumen, of which 180 million are recoverable.