Canadian Orebodies Completes Sale of 100% Interest in Ring of Fire Properties

Canadian Orebodies Inc. (TSX VENTURE:CO) reported that following the execution of a Purchase and Assumption Agreement with Hawk Uranium Inc. (TSX VENTURE:HUI) announced in Orebodies press release dated April 29, 2010.

The press release is quoted as saying:

This transaction provides Orebodies an opportunity to participate in the upside potential of any exploration success on the properties which Orebodies is vending, and also on those of which Hawk already owns. Orebodies in turn has expanded its exposure in the James Bay Lowlands ‘Ring of Fire’ without the associated costs, allowing Orebodies to focus on its promising Lithium/Rare Metals properties and pursue additional opportunities available to the Company.

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