Waterloo Announces Issuance of Stock Options

Suite 1050, 625 Howe Street

Waterloo Resources Ltd.

Vancouver, British Columbia Canada V6C 2T6

Telephone: (604) 687-9931 Facsimile: (604) 688-0094

N E W S R E L E A S E

Waterloo Announces Issuance of Stock Options

Vancouver, B.C., March 22, 2011 – Waterloo Resources Ltd. (TSXV: 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.

For further information contact:

Marcel de Groot Suite 1050, 625 Howe Street Vancouver, BC Tel: (604) 628-1102 Fax: (604) 688-0094

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 ADEQUACEY OR ACCURACY OF THIS RELEASE.