CVR Canadian Oil Recovery and Remediation Enterprises Ltd

TORONTO, ONTARIO--(Marketwired - Jan 20, 2014) - Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX-VENTURE:CVR) ("CORRE" or the "Company") announces the grant of an aggregate of 3,300,000 options to acquire CORRE common shares at a price of $0.135 per common share to certain officers, directors, employees and consultants of the Company. These options will vest in twelve equal installments beginning on the first anniversary of the date of their grant. The options expire on the earlier of their fifth anniversary date or the time the optionees cease to serve as officers, directors or employees of the Company.

About CORRE

CORRE (www.corre.com) 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.

Neither 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 the release.

CORRE LTD.John LorenzoChairman & CEO416-368-4027jlorenzo@corre.comCORRE LTD.David FreemanCorporate Development & Shareholder Communications416-368-4027dfreeman@corre.comwww.corre.com

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