WAT Lowell Copper Ltd.

Waterloo Resources Ltd. (TSX VENTURE: WAT) (the "Company"), announces that the Board of Directors has approved the issuance of 100,000 stock options. The options will have a five year term, subject to vesting provisions, and will be issued after market close on March 22, 2011, with an exercise price based on the closing price on that day. The stock options are being granted pursuant to Company's Stock Option Plan and will be issued to an independent director of the Company.

Neither the 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.

Contacts: Waterloo Resources Ltd. Marcel de Groot (604) 628-1102 (604) 688-0094 (FAX)