SCM

Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR)
("CORRE" or the "Company") is pleased to announce the Company has secured
commitments for a private placement financing of units (each an "Equity Unit"),
which will result in total proceeds of $750,000. Investors under the equity
financing will be issued 5,000,000 Equity Units at a price of $0.15 per Equity
Unit, with each Equity Unit consisting of one common share of CORRE (a "Common
Share") and one-half of one common share purchase warrant. Each whole warrant
issued from the equity financing will entitle the holder to acquire one
additional Common Share at a price of $0.25 for a period of 3 years from
closing. All of the Common Shares and warrants issued in connection with this
financing are subject to a statutory four-month hold period in accordance with
applicable securities laws.


The capital raised under this financing will be utilized by CORRE to fund its
operations for 2013 and resume with its bids for the forthcoming 2013 projects.
CORRE has successfully submitted its Geo-Sensing Satellite Detection pilot
project to the Kuwait Oil Company and is awaiting results. Furthermore, the
Company is working closely with TG-Engineering, through the CORRE-TG Engineering
partnership, to secure high value contracts in 2013.


CORRE is also pleased to announce it has secured $1.125 million to finance its
45% portion of SAR-CORRE MENA ("SCM") partnerships operating budget for 2013.
SCM's other shareholders are preparing to fund the remainder of SCM's 2013
budget of $2.5 million as needed. SCM is a private company which operates
independently of CORRE, executing on high value contracts in the MENA region.


SCM has successfully submitted its bid for the previously announced five-year
tender in the Middle East and continues to aggressively pursue additional drill
cuttings opportunities in the region. SCM expects the Kuwait Oil Company to
release the tenders for the high value soil remediation and drill cuttings
contracts in Q2 of this year. Additionally, SCM is currently in direct
negotiations with refineries in Saudi Arabia to become in-house oil waste
management providers to remediate and recover the oil of oily sludge, slop oil
and other wastes.


About CORRE

CORRE is a Canadian-based oil services company which trades on the TSX Venture
Exchange under the symbol CVR. CORRE provides full cycle oil waste management
solutions to the petroleum industry. CORRE's customers are primarily in the
upstream petroleum sector (oil production and drilling companies) and downstream
petroleum sector (oil refinery, transportation and distribution companies).
CORRE's operating lines include remediating oil-contaminated soil; treating
sludge, oil based muds and drilling waste, oil recovery; automated oil storage
tank cleaning, oil and gas engineering, and project management. CORRE provides
its advanced environmental solutions through strategic operating partnerships
with some of the most distinguished companies throughout the world.


Forward Looking Statements

Except for statements of historical fact relating to the Company, certain
information contained herein constitutes forward-looking statements.
Forward-looking statements are based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking statements. Except
as required by applicable securities requirements, the Company undertakes no
obligation to update forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to place undue
reliance on forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CORRE LTD.
John Lorenzo
Chairman & CEO
416-368-4027
jlorenzo@corre.com


CORRE LTD.
David Freeman
Corporate Development & Shareholder Communications
416-368-4027
dfreeman@corre.com

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