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Press release from Marketwire

Arcan Resources Ltd. Issues Options

Friday, December 02, 2011

Arcan Resources Ltd. Issues Options13:26 EST Friday, December 02, 2011CALGARY, ALBERTA--(Marketwire - Dec. 2, 2011) -NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESArcan Resources Ltd. ("Arcan") (TSX VENTURE:ARN) announces that on December 1, 2011, pursuant to the provisions of its stock option plan, it granted an aggregate of 998,000 options to acquire an equivalent number of common shares of Arcan to certain directors, officers and employees of Arcan. The options have an exercise price of $4.60 per share and expire on December 1, 2016. All stock option grants of Arcan are subject to receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange.About Arcan Arcan Resources Ltd. is an Alberta, Canada corporation that is principally engaged in the exploration, development and acquisition of petroleum and natural gas located in Canada's Western Sedimentary Basin. FOR FURTHER INFORMATION PLEASE CONTACT: Ed GilmetArcan Resources Ltd.President & Chief Executive Officer(403) 262-0321egilmet@arcanres.comORDouglas PennerArcan Resources Ltd.Executive Vice President & Chief Financial Officer(403) 262-0321dpenner@arcanres.comORSuite 2500, 308 - 4th Avenue S.W.Arcan Resources Ltd.Calgary, AB T2P 0H7(403) 262-0321Neither 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.