Glamis Resources Ltd. declares its financial and operating results for the three months and year ended December 31, 2008.

Glamis' highlights for 2008 are as follows:

• Developed a significant light oil pool at Queensdale, Saskatchewan with six, 100% working interest, horizontal wells. Glamis achieved a success rate of 100% with this development program.

• Discovered a new, 100% working interest, light oil pool at Manor, Saskatchewan. Successfully developed this Tilston pool with three additional wells achieving a 100% success rate.

• Successfully drilled a 50% working interest extension to the Manor Alida Oil Pool and a 100% working interest extension to the Arcola Frobisher-Alida Oil Pool.

• Production averaged 365 boe/d for 2008; a 70% increase from the 2007 average; increased year-over-year production per share by 36% and exited 2008 at 647 boe/d (100% oil).

• Reserve Life Index of 5.6 years on a Total Proven basis and 8.4 years on a Total Proven plus Probable basis using December 31, 2008 reserves and Q4 2008 production.

• Increased Total Proved plus Probable reserve volumes by 117% to 1.6 mmboe (97% oil), an increase of 73% on a per share basis over 2007.

• Replaced production by 650%.

• Invested $20.4 million in capital projects:

• Drilled 13 wells (12.5 net); 12 (11.5 net) oil wells and 1 (1.0 net) dry and abandoned

• Invested $3.3 million on land and seismic

• Constructed a 100% working interest oil battery at Queensdale, Saskatchewan

• Significantly increased funds flow over the year to $5,860,000 ($0.20 per fully diluted Class A share) compared to $730,000 ($0.03 per fully diluted Class A share) in the prior year, as a result of increased production volumes and higher oil prices.

• Increased southeast Saskatchewan undeveloped land base by 400% year-over-year to 7,500 net acres.

Fourth Quarter 2008 highlights

• Produced an average of 521 boe/d, 99% oil.

• Achieved funds flow of $1.1 million ($0.04 per share).

• Drilled 3 successful horizontal wells in southeast Saskatchewan.

• Expanded Glamis' land position acquiring 3,420 acres in southeast Saskatchewan and 3,840 acres in southwest Manitoba. Glamis held 19,300 net acres of undeveloped land at year-end

• Shot 18.8 square kilometers of 3D seismic in southeast Saskatchewan. Three drilling locations were identified with the first location to be tested in the second quarter of 2009.

Tags: Glamis Resources Ltd.