BRL Bearclaw Capital Corp

In a press release dated January 12, 2009, Bearclaw Capital Corp. (TSX
VENTURE:BRL)(FRANKFURT:5BQ) announced that it had granted options to its three
directors pursuant to its rolling 10% stock option plan to acquire up to a total
of 700,000 shares at an exercise price of $0.06 per share. The exercise price is
actually $0.10 per share.

Bearclaw Capital (TSXV:BRL)
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