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Canadian Quantum Energy Corporation Announces $1,000,000 Private Placement

April 28, 2011

CALGARY, Alberta, Canada - April 28, 2011 - Douglas Brett, President and CEO of Canadian Quantum Energy (OTCBB:QEGY) Corporation (TSXV:CQM) ("Canadian Quantum" or the "Company")(TSXV - "CQM") is pleased to announce that Canadian Quantum intends to complete a non-brokered private placement of common shares at a price of $0.25 per common share and common shares issued on a "flow-through" basis at a price of $0.30 per flow-through share for aggregate gross proceeds of up to $1,000,000. The shares issued in connection with the private placement will be subject to a four month hold period.

Douglas Brett, the President and CEO of the Company stated, "We continue to monitor developments in Quebec while pursuing other projects in Western Canada. Our Alberta, Bigoray horizontal well has recently been placed on production and will be monitored over the next several weeks prior to electing to drill additional earning wells. To date the Company has earned or purchased an interest in approximately 6 sections. The Company is evaluating additional drilling opportunities elsewhere, with a focus on shallow to medium depth light oil projects."

A finder's fee of up to 8.0% of the gross proceeds of the private placement may be paid on all or any portion of this private placement. In addition, finders will receive finders warrants equal to up to 8% of the number of shares issued in connection with the private placement. Each finders warrant will entitle the holder to purchase one common share at a price equal to the subscription price for the shares for a period of one year after the closing. The net proceeds of the private placement will be used for the Company's drilling obligations and for general working capital. The completion of the private placement is subject to regulatory approval including approval of the TSX Venture Exchange.

About Canadian Quantum

Canadian Quantum is active in Western Canada and in the St. Lawrence Lowlands, Quebec Utica Shale Play holding various interests in approximately 174,000 gross acres covered by four permits.

For further information, please contact:

Douglas Brett, President & CEO
Tel: (403) 532-8543
Email: dbrett@canadianquantum.com
Website: www.canadianquantum.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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