Zoolander Announces Corporate Update

TORONTO, ONTARIO--(Marketwire - March 11, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Zoolander Corporation ("Zoolander" or the "Corporation") (TSX VENTURE:ZOO) announces that the board of directors of the Corporation has received and accepted the resignation of Mr. Sanjiv Rai as Chief Financial Officer, Mr. Michael Delahunt as a Director of the Corporation, Mr. Gavin Treanor as Chief Executive Officer and a Director of the Corporation and Mr. Chris Irwin as a Director of the Corporation. Mr. Rai's resignation is effective as of February 20, 2013, Mr. Delahunt's resignation is effective as of March 5, 2013 and the resignations of Mr. Treanor and Mr. Irwin are effective as of March 6, 2013. Zoolander would like to thank each of Mr. Rai, Mr. Delahunt, Mr. Treanor and Mr. Irwin for their service and contribution to the Corporation and wishes them continued success in their future business ventures.

In order to fill the vacancy created by the resignation of Mr. Treanor as Chief Executive Officer, Mr. Paul Ekon, currently a Director of the Corporation and a shareholder controlling, directly and indirectly, over 50% of the outstanding shares of the Corporation, has been appointed as Chief Executive Officer of the Corporation. Mr. Ekon will continue to serve as a Director of the Corporation. The Board and the Corporation are engaging in discussions for a new Chief Financial Officer and will provide an update on a new Chief Financial Officer in due course.

In addition, Zoolander is pleased to announce the appointment of Ms. Yi (Christine) He on February 20, 2013 as a Director of the Corporation. In accordance with the policies of the TSXV, Ms. He's appointment is subject to the TSXV's review and approval.

The foregoing information may contain forward-looking statements relating to the future performance of Zoolander. Forward-looking statements, specifically those concerning future performance, expectations concerning the timing results, indications and benefits of exploration, drilling test work and engineering assessments, and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from Zoolander's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Zoolander with the TSXV/NEX and securities regulators. Zoolander does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Zoolander in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.

Shares Outstanding: 49,987,500