CCN Kaizen Discovery, Inc.

Concordia Resource Corp. (TSX VENTURE:CCN) ("Concordia") is pleased to announce
that, further to its news release dated September 6, 2011, it has signed an
arrangement agreement (the "Agreement") with Swala Resources Inc. ("Swala"),
dated October 20, 2011. Under the Agreement Concordia has agreed to acquire all
of the issued and outstanding Swala securities pursuant to a plan of
arrangement. Swala brings to Concordia an extensive exploration portfolio in the
resource endowed regions of Burkina Faso, Gabon, the Democratic Republic of
Congo (the "DRC"), Zimbabwe and Mozambique with a land package totaling over
12,400 km2, as well as an experienced management team and board of directors
with extensive expertise in Africa. Completion of the plan of arrangement
transaction is expected by December 2011. 


Also pursuant to the Agreement Concordia has agreed to fund existing exploration
commitments in Burkina Faso so as not to lose valuable dry-season drilling and
sampling time. This will be done by subscribing for an unsecured promissory note
(the "Note") of Swala in the principal amount of CDN$2,000,000. While it is
hoped that finality of the Arrangement pursuant to shareholder approval will be
in December, the Note will have a maturity date of March 30, 2012. All principal
and interest owing under the Note will be repaid in full on the Maturity Date by
payment in cash or, at the option of Swala, by the issuance of 1,470,558 shares
of Swala and warrants to acquire an additional 450,000 Swala shares for two
years from the date of issue at a price of $1.93 per Swala share. If Swala
terminates the proposed arrangement by accepting a superior proposal, the break
fee of $500,000 will be due to Concordia and the Note will be repayable, in
cash, within 30 days. 


"Signing the arrangement agreement with Swala establishes a solid framework from
which we can begin the process of advancing an aggressive drill program in
Burkina Faso, where Swala owns 100% of the Kerboule property and is earning up
to an 80% joint venture interest on SearchGold's Gueguere property," stated
Edward Flood, CEO of Concordia. "The focus of the proposed drilling program is
to generate a NI 43-101 qualified resource on the Kerboule property while
expanding the currently identified mineralization on the Gueguere property. We
have worked closely with Swala over the past two months to prepare a strong
foundation for creating future shareholder value." 


Commenting on behalf of Swala, Gerard de la Vallee Poussin, Executive Chairman,
stated, "This is the start of a new era for Swala's shareholders. In challenging
markets we are fortunate to have found a suitor in Concordia with such
enthusiasm for Africa and a belief in our projects and team. Together we have
all of the elements of a successful exploration company and this transaction
allows the potential of our various projects in Africa to be realized and in
particular the Kerboule gold project in Burkina Faso." 


Results from a 22,000-metre drilling program in the 2010/11 dry season are
expected to be returned in the coming weeks and for the current drilling season
Swala has designed an ambitious program for both the Burkina Faso projects.


In the DRC, Swala now has two joint ventures in place, one with Anglo American
plc and the other with an aggressive and well-funded new partner who has pledged
to spend $3 million over two years on an initial exploration program. In Gabon
the company has a joint venture with AngloGold Ashanti Ltd., whose exploration
program is continuing, and in which Swala has an option of participating in the
event of discovery. In Zimbabwe, Swala has received the necessary government
authorizations and is implementing a pilot program on its tenements with the
Zimbabwe Women in Mining Association.


The Transaction 

Pursuant to the Agreement, Concordia will acquire each outstanding share of
Swala for 1.9 shares of Concordia. Swala currently has 13,617,761 shares issued
and outstanding, or committed to be issued, options to acquire 1,339,334 Swala
shares with a weighted exercise price of $1.41/share issued or committed to be
issued, and warrants to acquire 2,901,135 Swala shares. It is proposed that the
outstanding options will be exercised for Swala shares before the transaction
completes (the "Closing"), on a cashless, in-the-money value basis, using the
1:1.9 share exchange ratio. Unexercised options will be cancelled. Following
Closing, Concordia will issue options to acquire an aggregate of 2,221,754
shares of Concordia, with an exercise price of $0.70 per share, to members of
the Swala team. Each unexercised warrant will be exchanged for 0.5 Concordia
warrants, with a weighted average strike price of $0.86. 


The Agreement also provides for conditions precedent that are standard for a
transaction of this nature, including receipt of all regulatory and TSX Venture
Exchange approvals, and approval by Swala's securityholders. Lockup agreements
will be entered into with the directors of Swala prior to mailing the
information circular to the Swala shareholders, and Swala will make reasonable
commercial efforts to obtain additional lockup agreements from holders of Swala
securities holding, together with the Swala directors, an aggregate of 30% or
more of the issued and outstanding securities of Swala.


The combined company will retain the Concordia name and remain headquartered in
Vancouver, Canada. Swala will become a wholly owned subsidiary of Concordia and
Swala shareholders will become shareholders of Concordia, holding approximately
30% of the issued and outstanding shares of Concordia post-transaction.


Treeline Project 

Concordia also announces that its Nevada subsidiary, Western Energy Development
Corp., has entered into an agreement (the "Assignment Agreement") with Tigris
Uranium Corp. ("Tigris") whereby Tigris will acquire Concordia's Treeline
project, which includes a sandstone hosted uranium deposit, located in McKinley
and Cibola Counties, Grants Uranium District, New Mexico. 


The Treeline project consists of a mining lease and certain unpatented mining
claims covering approximately 2,000 acres. In consideration for the assignment
of the Treeline project, Concordia will receive 200,000 common shares of Tigris.
The Assignment Agreement is subject to several conditions precedent, including
regulatory approval.


ABOUT CONCORDIA 

Concordia Resource Corp. is a junior mining exploration company. The successful
acquisition of Swala will add to Concordia's precious metals portfolio, which
includes the past-producing La Providencia silver mine in Argentina, and will
position the company as a well-financed African explorer with an emphasis on
developing gold deposits holding the potential of one million ounces upwards.
Members of Swala's team are former Anglo American plc and De Beers executives
with extensive experience of operations throughout the African continent.
Concordia has its head office and executive management team in Vancouver,
Canada; its technical team is based in Reno, Nevada.


About Burkina Faso 

Much of West Africa is underlain by the Birimian greenstone belt, one of the
most prolific gold-producing areas in the world. Many of the world's major gold
companies are active in West Africa, several with producing mines, including:
Iamgold Corp., AngloGold Ashanti Ltd., Randgold Resources Ltd., Gold Fields Ltd.
and Newmont Mining Corp. Burkina Faso is politically and economically stable and
relies on farming and mining as it primary sources of revenue. Burkina Faso saw
gold production double from 2008 to 2010 and is currently the fifth largest
gold-producing country in Africa. Control Risks, a global consultancy
specializing in political, security and integrity risk, ranked Burkina Faso #3
in their 2011 World Risk Survey - countries with least risk. The World Risk
Survey asked respondents to rank their perception of risk in the following
categories: financial risk, sovereign risk, land access, green tape, land
claims, red tape, social risk, infrastructure, civil unrest, natural disasters
and labour relations.


On behalf of the Board of Concordia Resource Corp. 

R. Edward Flood Chairman 

Forward Looking Statements 

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario Securities Act,
including the receipt of necessary permits to conduct exploration and
construction, timing of anticipated exploration program, the number of the holes
and meters to be drilled and future plans of the Company. Forward-looking
information is subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the forward-looking
information, including, without limitation, risks and uncertainties relating to
risks inherent in mining including environmental hazards, industrial accidents,
unusual or unexpected geological formations, ground control problems and
flooding; risks associated with the estimation of mineral resources and reserves
and the geology, grade and continuity of mineral deposits; the possibility that
future exploration, development or mining results will not be consistent with
the Company's expectations; the potential for and effects of labour disputes or
other unanticipated difficulties with or shortages of labour or interruptions in
production; actual ore mined varying from estimates of grade, tonnage, dilution
and metallurgical and other characteristics; the inherent uncertainty of
production and cost estimates and the potential for unexpected costs and
expenses, commodity price fluctuations; uncertain political and economic
environments; changes in laws or policies, delays or the inability to obtain
necessary governmental permits; and other risks and uncertainties, including
those described in each management discussion and analysis. Forward-looking
information is in addition based on various assumptions including, without
limitation, the expectations and beliefs of management, the assumed long term
price of metals; appropriate equipment and sufficient labour and that the
political environment where the Company operates will continue to support the
development and operation of mining projects. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the forward-looking
information. Accordingly, readers are advised not to place undue reliance on
forward-looking information.

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