Galena Capital Corp. Increases Acreage Position in Matagorda Bay, Texas Prospect

Galena Capital Corp. (TSX VENTURE:FYI) (the "Company"), is pleased to announce
that, together with its partners in the Matagorda Bay prospect, the Company has
acquired the State of Texas Lease covering the South one-half of Block 150
Matagorda Bay totaling 320 gross acres, the Company's proportional share of the
cost for these leases being approximately $20,000 USD.


About Galena Capital Corp.:

Galena has been looking for cash flow opportunities in the oil and gas sector
through dedicated management teams. Assets such as Matagorda Bay and the Joint
Venture on the Bitumen technology have met the criteria and will undergo
extensive due diligence. 


ON BEHALF OF GALENA CAPITAL CORP.

Michael Leahy, VP of Communications

Certain of the statements made in this news release may contain forward-looking
statements within the meaning of applicable Securities law. We have made
numerous assumptions about the material forward-looking statements and
information contained herein, including among other things, the assumptions
about the price of oil and gas, anticipated costs and expenditures and our
ability to achieve our goals. Even though our management believes that the
assumptions made and the expectations represented by such statements or
information are reasonable, there can be no assurance that the forward-looking
statements or information will prove to be accurate. Forward-looking statements
and information include, but are not limited to statements or information with
respect to known and unknown risks, uncertainties and other factors which may
cause the Company's actual results, performance or achievements, or industry
results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements and
information. Such risks, uncertainties and other factors include, among others,
the failure to obtain necessary regulatory approvals, risks associated with the
oil and gas industry in general (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental risks), and
commodity price, interest rate and exchange rate fluctuations. Should one or
more of these risks, uncertainties or other factors materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those described in forward-looking statements and information. Although we have
attempted to identify factors that would cause actual results to differ
materially from those described in forward-looking statements and information,
there may be other factors that cause actual results, performances, achievements
or events to not be as anticipated, estimated or intended. Also, many of the
factors are beyond our control. There can be no assurance that forward-looking
statements or information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly you should not place undue reliance on forward-looking statements or
information. Except as required by law, we do not expect to update
forward-looking statements and information as conditions change and you are
referred to the full discussion of the Company's business contained in the
Company's reports filed with the securities regulatory authorities in Canada.

Galena Capital Corp (TSXV:FYI)
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