Stealth Shale Gas Operations Update: Hitting Budget and Production Targets

Stealth Ventures Ltd. ("Stealth" or the "Company") is pleased to announce that its production is rapidly growing beyond its second quarter average of 236 BOE/D, primarily due to tie-in operations on its current 70 well program at Wildmere, Alberta. Since the inception of the play in early 2006 Stealth has progressed from a conceptual technology play to a commercial producing asset, and production growth is now the focus of the Company.

The current summer drilling program kicked-off on July 3rd, 2008 and is currently under the budgeted $350,000 tied-in cost per well, with 42 wells drilled, 25 completed, and 10 tied-in and producing to date.

The Company's production is today increasing past 2.5MMcf/d (raw) from the field with an estimated corporate production of 350 (net) BOE/D as of the day of this release. The Company expects to see strong production growth in the third and fourth quarters of this year, with the majority of wells tied-in during the fourth quarter.

Stealth Ventures Ltd. is a Calgary-based junior oil and gas company whose expertise and focus is on "unconventional" gas reserves from shale gas, CBM and tight gas sand reservoirs.

    <<
    STEALTH VENTURES LTD.

    "Derek Krivak"

    Per: DEREK KRIVAK
    Chief Executive Officer

    Disclosure provided herein in respect of BOEs may be misleading,
particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is
based on an energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the wellhead.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS
    RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS
    MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
    >>

%SEDAR: 00008195E

SOURCE: Stealth Ventures Ltd.

Derek Krivak, CEO, Mark J. Roth, CFO, Stealth Ventures Ltd., Tel.: (403) 514-9998, Fax: (403) 514-9995, Emails: This email address is being protected from spambots. You need JavaScript enabled to view it.; Richard Cohen, Investor Relations, Clark Avenue Company, Tel.: (905) 882-4422, Fax: (905) 882-4435, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.