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.