Long Harbour Enters Into Letter Agreement with Composite Transport Technologies

November 26 2012

Long Harbour Exploration Corp. apprised that it has entered into a letter of intent with Composite Transport Technologies, Inc. ("CTT"), a private company based in Charleston, West Virginia that specializes in composite technologies for the aviation transport industry. Pursuant to the terms of the LOI, the Company has the opportunity to obtain up to a 70% interest in a joint venture (the "JV") with CTT. Highlights of the proposed transaction include: JV will receive exclusive global rights to CTT's technologies, which has patents pending on both composite materials and manufacturing processes; Immediate access into the growing aircraft cargo container, referred to as a unit loading device ("ULD"), market of the passenger and transport aviation industry; JV able to leverage extensive aviation industry network to commence pilot production with major aviation industry involvement; and Plan of arrangement which includes a potential spin-out of the Company's current mineral properties onto the Canadian National Stock Exchange (the "CNSX") As a defining transaction that would require LHC to change its main business focus from its two wholly-owned uranium properties located in the Athabasca Basin, the world's leading source of high grade uranium, the Company plans to complete a statutory plan of arrangement which will constitute a change of business for the Company under the policies of the TSX Venture Exchange.

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